AUSTRALIA
[BY CABLE —PEESS ASSN. —COPYRIGHT.] I.OAN APPROVED. MELBOURNE, October 27. The Premiers’ Conference to-day agreed to the flotation of a loan of eight millions at interest of :’ : l per I cent., with an underwriting fee of Ilf/- making the effective percentage .£3/1 G/-. The Conference curried a. resolution urging the Commonwealth Bank to find some money, not exceeding 2 1 , millions, for assistance to wheatgrowers in the various States. SYDNEY, October 28. The “Herald’s” Melbourne correspondent says the Premiers' Conference declared itself in favour of an immediate internal loan of eight millions, the issue to be al par. bearing the late of interest £3/15/- per rent, and a currency of ten years. A deadlock'. was reached when the Commonwealth Bank intimated it would not underwrite the loan at less than four per cent. Ultimately, the Conference sugested that Sir Robert Gibson convene a conference of the trading
banks of Victoria and New South Wales to review the whole problem. Si;- R. Gibson informed the conference he was prepared to do that.
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Greymouth Evening Star, 28 October 1932, Page 8
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172AUSTRALIA Greymouth Evening Star, 28 October 1932, Page 8
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