VICTORIAN LOAN.
OVER-SUBSCRIBED IN TWO HOURS.
RUSH FOR GILT-EDGED SECURITIES.
(Received Feb. FI, 9.10 p.m.) LONDON, Feb. 21. The Victorian loan has been oversubscribed.
It was generally expected that the Victorian loan would be fully subscribed but few anticipated such an instantaneous success. The list was only open two hours and when m closed the subscriptions amounted to .£55,000,000. Many applicants from prospectuses were disappointed. Victoria’s success is due to _ the rush for all gilt-edged securities cabled on Saturday, which was renewed this morning on an even bigger .scale stimulated by the Government's offer to convert. 5 per cent. Exchequer bonds maturing on April 1 into 31 per cent, conversion loan at the rate of £136 conversion for each £IOO Exchequer bond. The heavy subscriptions for all recent loans are largely due to the staggering but at the same time, good^demand from investors. —A. and N Z. O.A.
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Bibliographic details
Gisborne Times, Volume LVI, Issue 6318, 22 February 1922, Page 5
Word Count
148VICTORIAN LOAN. Gisborne Times, Volume LVI, Issue 6318, 22 February 1922, Page 5
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