BONDHOLDERS’ INTEREST
THE SOUTHLAND DECISION COMMENT BY ‘THE TIMES! Press Association—By Telegraph—Copyright LONDON, August 24.(Received August 25, at 12.20 p.m.)’ The City editor of ‘The Times’ says:' “ The Southland Electric Power Board’s decision to pay future interest to London bondholders in New Zealand currency has surprised the City, where it was not unreasonably thought that the Government’s action regarding the Auckland loans would eliminate further similar questions, especially as the Auckland loans were complicated through some of the bonds being originally sold in New Zealand, while the Southland issues were raised in London under the New Zealand Government s unconditional guarantee.
“The Stock Exchange has ceased quoting the bonds pending developments, although it is confidently hoped that the Southland Board’s meeting with Mr Coates will result in the Government’s assurance that it intends to pay in sterling, as it is assumed that the Southland Board’s declaration applies merely to a payment between the company and the Government. Nevertheless, it is highly desirable in the interests of New Zealand’s credit that the position should immediately be clarified and steps taken to prevent » repetition of such incidents.”-
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19330825.2.48
Bibliographic details
Evening Star, Issue 21499, 25 August 1933, Page 6
Word Count
185BONDHOLDERS’ INTEREST Evening Star, Issue 21499, 25 August 1933, Page 6
Using This Item
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in