LONDON AND LOCAL

Evening Post, Volume CXIII, Issue 100, 30 April 1927, Page 11

LONDON AND LOCAL

TWO COMMONWEALTH. LOANS

Iwn iMim ivr,? on U\« mnrkol IW \\w *'onmn!ii\v..!\|()i Oovermnent. o»o In ], 0 (f tlon ima tins other in AunU'«'lin, 'IV ), O i,, tlou 10.111 Ima bwu wferroU to in (tie vwblftsruiiHi, lint i (N met ,i M ammmt K [, m uoi rtinwiu- (o imvc been m\( out, l,,ti» iiurfion, howrver, \\ M given of iv i»vob«bl« (wtituou ill a «.il)leg\'»w to "The lVst" MM Loiuloi,, mh Am-il, mid it wa« then (U on dm jn,-,vk P t, (nv^tment, bcrMisc ol r«B mp, ftltliongh not received |, eV i>, i l' »?? . * lmw l[)<!tt|l fftvwirftbly venetx'i «<l, J-liiti loan w.iR nmiiily for PonveiVton miriKMiii*. ViiitiH' viibWi} infoinuuion, dmeil .-It i>w .Mvit. ol (\w loan had been left with mnl.nwvttriw. iiiHl ktor (-till tko vho|ioih, tlon vv«tt undl to bo 80 voi« cent,, then ST I'oi- .■i-nl.s nlro U, ft (, v l««linK« t» Uip Xi«« liii.l tu;cit rivortieil ill ii |)i-piniinn ot onolilsU'i'ntb \n'i- oont. C'onvornionK, too, \verv i\'i»«ieil or mnomittng.to .Cti.lSn.tHio.--.lmi, tlin wionnt, of tlmt loiin. the rutu of inlewnt, ami |>rwt> o( ((.sue, «ihl iv date ,»( miitiiriij" liuvn not «o fur hwn notiiied, V'rom Anuh'tillmt sonwes of iiifonntitlon v i« tiitlieft«l tlvat the Commonwealth would lio nwjlytug to Lon.lon, tlnoiiith vinilorwritew 4\>i' » lomv of ,Oll ( Yn.0OO for rtiloiiHition of it« ,\>4 v*>' wvu, Wsin n\A> tin-ins Ist Jtroe next. Tht» oiMwersion loan liOiiin intci-Odt at; S per m<nt,, matures IM.W*. im.l in iiwued at i'i)B, the Cominonwpiilih Oijvermnetit ha* iy loan of .C 12.mW.000 duo in 1-otulon on Ui June. 'then there is the Anstraltan local loan, ii\(it\ui\it yw. ,M«iy Jn AucitrMtn, for .CtKi)OO.(HH), 'Jiie term« ot thl* loan now he-tore the iniblli! aw fiVi per cent,; the amount. .C4.'J00,000. Tlie CointuouweiAUh lijcnt loan >» ft oash «nd «onvown>n lowft w?in>.| nl |iar, beaviim 11. Interest »t tlie rnte of *y t per i'eiil, 'llm- e»«th portion of tlie loan. X'l.i.Mi.tXK). i» fotttnu vni»ed on beliaK of tliw all State t!o\'ei\anients (New South Wiilett exeenloiH, nnd\<.he' I'Viloijftl l'«tj>»tnl Coiniuinsiou. 'I'he baiiKfi hiive nnderwrit' ten thle loan, With the, .CtMRIWO ratwHl iv (lie iiivvioiiK loan tK"> total niiped In. Aitnii'iiliii lot' iho Kederal\C«\)lt«\ Cumintasion and the ijtilteh. i'W(-«t New South Wrtlo?, will be JCWM.iHHV Into Ilie niimi) iosiie iim>- be ronvertisil Hloi'li or bond* of the tl n.»v oe.iit, loan fnllinjj iliip on Itlst, May »\«'\t, of which. .CU.tMO.tHM) in oulciaiulinu, Ol' this amount, the Commonwealth Iknk hok\n which KlocVi the dlreetovn hitvf. devkled nhiiH ho converted into the iww fiH per cent,. Htoi'U. The National IMil Connnliiptou han »ol «v»vt. ;CI,O*>O.OOH i« redeem nn cuvial timoiint, oC the d jier oivnl, «took, «o that iM.uiven.hnw by the i)i«|)liiJ need only be .CH.tUD.OiW, The Treswurs \* honefill that, fill of thl* will bo turneo* intiMhe 6Vi ncr eeiU, iisniie, In any cane, ihe l<«d« oral 'iVeimnrei' stalen, t>uh»ori|>tkiuh to Ihe ea»h loan will not be utilised to redeem any Dart of the loaii ftbont to tftll due. 'i'liiii loan i» Wfiiied at, a time of tight, money, and the Interest U about a awarler of 1 nor eenl, beiow what, the Avistwlian market. reijarilH as an tulei\uate retui-li on gllt«ed|sod ntoek. It' tlie imblle does «iv, Biibi-.eribe Ihe loan In lull, tlie hanks will make it ii|i to the full amount. In <Uilng (in they umy briny about, « trtUl tl«h»nf mnrkei.-,