AUSTRALIAN LOAN
UNDERWRITERS TAKE *; 67 PER CENT.
(By Telegraph—Press Assn.—Copyright.)
LONDON, December 1. The underwriters were left with 67 per cent, of the new Commonwealth loan. The issue opened at 15s discount, but later it improved. The loan was for £11,409,965 at 3J per cent, per annum, issued at £97, and maturing 1951-54. It was expected that it would save Australia £315,000 per annum in interest and was- for conversion of 6i per cent, stocks of New South Wales, South Australia, and Tasmania. The financial editor of "The Times," in commenting on this loan, remarked: -"The conversion sayings are the result of cheaper money and the greatly improved credit of Australia, thanks to a policy which, under the guidance of the Lyons Administration, the, Commonwealth has consistently followed since the depression."
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Bibliographic details
Evening Post, Volume CXXIV, Issue 133, 2 December 1937, Page 14
Word Count
131AUSTRALIAN LOAN Evening Post, Volume CXXIV, Issue 133, 2 December 1937, Page 14
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