MONEY FOR AUSTRALIA
HIGH PRICE WILL HAVE TO BE PAID.
LONDON, 21st May
City opinion is that the Australian Treasurer (Mr. W. A. Watt) will not have an easy task raising loans unless prepared to pay a. high price. Although competition is high, interest in industrial flotations has practically ceased owing to the- banks restricting facilities for speculation, and there is a prospect of money continuing dear. The discount market is die-cussing the 'possibility of a further increase in the bank rate. There is also the fact that British Government investments offer a high rate of interest. Exchequer bonds maturing in 1922 now yield the investor 146s per cent. A new housing loan for Kent, Middlesex, and Essex of five millions at 6 per cent., issued' at 95i, redeemable in 1940-60, yields 126s 9d per cent. There is undoubtedly plenty of money for investment in gilt-edged'securities if the terms offered are sufficiently attractive.
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Evening Post, Volume XCIX, Issue 122, 24 May 1920, Page 7
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153MONEY FOR AUSTRALIA Evening Post, Volume XCIX, Issue 122, 24 May 1920, Page 7
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