WEAKNESS IN OUR FINANCE

Evening Post, Volume LXXXIII, Issue 140, 13 June 1912, Page 8

WEAKNESS IN OUR FINANCE

THE FOUR MILLION LOAN. fit TELIORAVH — PRSSS ABSOOimON.j DUNEDIN, This Day._ Prominent financipib and mercantile men, when seen by a Dnnedin.Sti*r representative, .expressed the opinion that the floating of a four million loan for two years showed a. distinct weakness in our finance. Money mubt become tighter and rates higher in a very short time. A sharebrcker pointed out that an Indian loan of three millions -floated' in.' London in April last was underwritten, to exactly the same amount, viz., 87 per cent, of the total was loft in the hands of underwriters. Homo papers,' commenting on this^ ' said evidently the English investor now wanted a higher rate of interest on his money. .

The Postal authorities adviae that the en. Maheno, which sailed from Sydney at noon yesterday for Auckland, has on, lx>ai-d an Australian mail,.al&> an English mail via. Suez. The Wellington portion is due to arrive here by the Main Trunk on Monday next. Mr. Hems worth, of Panama tta. New South Walw, has accepted an invitation to act as judge at three of the largest poultry t shows to bo held in New Zealand this year. He will attend the Hastings show on 12th July, Carterton on 17th July, and Christch-urch on, 15th August. The caii:-:r>rration of the Rev. Canon Sadlier a^ Bit-hep of Nelsou will take place at the Nelson Cathedral on Sunday, 2ist- July. Tlkj Primate (Bishop Novill, of Dunodin), will conduct the ceremony, and he will be assisted by the Bishops of Wellington and Auckland. During the month of May female workers assisted by the Labour Department numbered o5 married and 164 tingle women: Among tho men aasieted were 131 married men and 386 single. Of thoee helped 102 came from Great Britain, 21 from Australia, and the rest from various parts of New Zealand. At a^ recent meeting held in Napier iv the interests of tha Sports Protection League, the general secretary (Mr. Paape) stated that the leaguo had a membership of 60,000, of whom 4000 were located in Hawkes Bay. Tho Admiralty has ouggested, and tho Government has agreed to, a. rearrangement of tho Australasian fleet .duties consequent upon the loan of H.M.S. Encounter to the Commonwealth for tho training of crews for tho Australian fleet unit. Tho with' drawal of this vessel from New Zealand waters will result in goneral eta'tion duties, including New Zealand, being carried out froni lot July by the Drake, Pionser, Cambrian, Psycho^ and Torch.