LAST-MINUTE RESPONSE
WHOLE SUM IF SIGHT
MAY BE OVERSUBSCRIBED
SYDNEY, 15th December. A splendid last-minute response to! the Commonwealth £28,000,000 loan had a reflex in the Stock Exchange. All issues o£ bonds were marked up, and gains of from two to twelve points were recorded, the best advance being on long-dated 6 per cents. It is understood that early fears of note inflation, caused a number of the largest investors to hang back. This attitude later was replaced by a feeling that the best way to arrest inflation was to ensure the success of the loan. However, there is still an clement of nervousness and caution, due to the uncertain political outlook in tljfe Hew South Wales as well as in the Federal sphere. j Upwards of £27,000,000 is in sight, while a considerable number of holders of the former loan have not yet indicated whether they intend to convert, but the majority are expected to do so. The loan remains open for subscription to-morrow, and it is officially anticipated that it "will be oversubscribed by Wednesday.
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Bibliographic details
Evening Post, Volume CX, Issue 144, 16 December 1930, Page 11
Word Count
177LAST-MINUTE RESPONSE Evening Post, Volume CX, Issue 144, 16 December 1930, Page 11
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