LOAN FROM U.S.A.

Hawera Star, Volume XLV, 10 July 1925, Page 5

LOAN FROM U.S.A.

AUSTRALIA MAY CO THERE. 87 CABLE—PEESS ASSOCIATION—COPYEIGHT NEW YORK, July 8. The financial editor ro£ the New York Times says the approach of the maturity' date of a large amount of Auslralian Government bonds is causing New York bankers to discuss the possibility of an Australian loan here. Australia so far has done all her financing in London, but it is believed that some was shifted to New York this year. Several Wall Street firms are known t> be seeking business, and as Australia enjoys high credit standing the jeeurities should go well here. The British return to the gold standard is a virtual ban on new financing, even in the colonies, and this factor is allowing the forthcoming Australian refunding issues to be. floated in New York. In addition to the refunding of war debts Australia, it is known, desires capital for the extension of public works.

WALL STREET INVESTMENTS. INTEREST IN THE DOMINION. American financiers are eagerly seeking fields of investment abroad, according to the Hon. W. Downie-Stew-art, Minister for Customs, who returned a few days ago from New York. A number of them interviewed the Minister while he was in New York, and asked him about the prospects of floating a New Zealand loan. He added that New York bankers regarded New Zealand in its present finanical position as affording a most gilt-edged \ security. They claimed that they could lend moneys an cheaply as the London money market. It was impossible to go into details in a brief interview, but he hoped to be able to say more on the subject later.