OVERSEAS BORROWING
POOR FUTURE PROSPECTS ? (BT CABLE—PBESS ASSN. —COPYBIGHT.] (Rec. April 11, 8 a.m.) LONDON, April 10. “Tfie Statist” says: While Dominion stocks continue firm, the prospect of fresh borrowing is not hopeful.
Sir Arthur M. Samuel told an interviewer that the failure of the New Zealand loan ought to be a warning to Australia. “New Zealand loans are popular in Britain, yet dislike for Australian loans shut the door on New Zealand. It is doubtful whether any considerable amount of new money was subscribed. The portion of the loan taken up was probably by exchanging old loan for new. Underwriters are forced to find one and ahalf millions sterling to assist New Zealand to repay the four millions shortly due for repayment. The position indicates that Australia won’t get any new money, when thirteen millions fall due in November, and may be obliged to hypothecate certain customs to the service of the new loan.”
A prominent stockbroker disagreed with Sir A. M. Samuel, pointing out that the failure of the New Zealand loan was partly due' to market difficulties following Continental liquidation arising out of the Kreuger crash.
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Greymouth Evening Star, 11 April 1932, Page 5
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189OVERSEAS BORROWING Greymouth Evening Star, 11 April 1932, Page 5
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