THE MONEY MARKET

Evening Star, Issue 17791, 13 October 1921, Page 6

THE MONEY MARKET

QUEENSLAND’S LOAN. Press Association —By Telegraph—Copyright. LONDON, October 11. Mr Sheldon, the London representative of the Blair Company bankers, who were reported to bo negotiatihg with Victoria in reference to floating a loan in New York on similar terms to the Queensland loan, remarked in tho course of an interview that if sterling appreciated Queensland would gain enormously when tho periods of repayment were reached. There would ba annual repayments by Queensland in two periods of five and fifteen years respectively during the currency of tho loan, as follow : —During the first five years Queensland must provide annually 400,000d0l sinking fund for the repurchase and retirement of Queensland bonds at par or below par. During the second period of fifteen years Queensland must provide a sinking fund estimated at 600,000clo! annually for tho repurchase and retirement of one-fifteenth of her outstanding indebtedness at or under 102 A.— A, and N.Z. Cable. C■ - - PREMIER GRATIFIED. LONDON, October 11. Mr Theodore (Premier) has cabled to Mr J. M. Hunter (Agent-General for Queensland) tho terms of the loan, adding : “Wo intend converting dollars into sterling, which should result in material advantage to tho State. Tho Government is gratified at the manner in which the issue was received in America.”—A. and N.Z. Cable. NEW SOUTH WALES LOAN. LONDON, October 11. The subscriptions to the New South Wales loan totalled over £5,500,000. —A. and N.Z. Cable.