NEW ZEALAND'S LAST LOAN.
I TO THE KDITOB. I Sir,—As much misapprehension is curI rent, will vou kindly print the following J from the ' Australasian Insnrance and Bankmz Record," January, 1902:—"The results of the New Zealand loan of £1,500,000, placed in London on 27th November, only about one-half being taken by the general public, were less favorable than might havo been expected, the long terms given :or payment fiving accrued interest to *be amount of about £1 3s lOd per cent. Adding to tuis sum the underwriting charge of 1 per cent., and the usual expenses, a little over £1 3s, the total cost of the issue was about £3 7s per cent, and as the price was £94 it follows that the net proceeds were equal to about £9O 13s per cent., the total being about £1,300,000. The difference between the amount realised and the nominal amount will, of course, have to be found when the loan falls due for repayment m 1845. Pretty expensive borrowing this!" Abandoning Mr B-ulance's self-reliant policy has to hz pnld for, and one is reminded of the bi-vt of all plans of finance—- • viz.. to spend ;<s little as possible—and that the best i-f all titles ;ire those which (ire least in amouiit. Cui bono.—l am, etc., F.M. Febrnnrr 6.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19020206.2.43.2
Bibliographic details
Evening Star, Issue 11675, 6 February 1902, Page 5
Word Count
217NEW ZEALAND'S LAST LOAN. Evening Star, Issue 11675, 6 February 1902, Page 5
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.