AMERICAN CAPITAL

Hawera Star, Volume XLV, 25 November 1925, Page 5

AMERICAN CAPITAL

EMPLOYMENT ABROAD. THE LATEST (MOVEMENT. INVESTMENTS IN AUSTRALIA. BY CABLE—PRESS ASSOCIATION-COPYRIGHT. Received Nov. 25, 10.45 a.m NEW YORK, Nov. 24. The National City Rank of New York has decided to have permanent representation in Australia with a view to furthering the financial connections between the two countries. Mr. J. F. Lauderdale, who lias been lately representing the National Bank in London, and who formerly had experience in Scandinavian and other European countries, has been appointed to the new position in Australia. It is understood that the National City Bank is not only interested in the flotation of loans-for Governmental organisation in Australia, but will, it is believed, be ready to advance funds to municipalities and public utilities for far-reaching impiovements. —Aus.N.Z. Cable Assn. The National City Bank does a large business in the direct placement of its bonds among small investors in the United States, and it is believed it would underwrite enterprises at rates competitive with London. Large American financial houses are desirous of finding a further outlet for American capital in worth-while foreign investemnts, especially since the American Government specifically approves of such uroceedings. The National Bank’s entrance into "the Australian field is considered to be a strong mark of the confidence of American business circles in continued Australian development ’along sound lines.