HUGE AMERICAN LOAN
CALL FOR £170,000,000 RUSHED. IMME-DIATE O VER-SUB SORTPTI ON fT.lni:«>u Ires* -msociatlon—Bv Electric Telegraph Copvnght.) WASHINGTON, July 31. Treasury officials are pleased at the immediate over-subscription to-day of a £170,000,000 offering of Government bond notes, the first long-term Government financing for several years, and the first financing of any sort since abrogation of the gold clause in Government securities and bonds.
A total of £100,000,000 will mature in eight years and pay 3j per cent, interest. The remaining notes will mature in two years and beai 1 -j per cent, interest.
Officials view the rush of investors into Government securities as an indication that the heavy financing necessary for the administration’s recovery programme will be successful, despite the absence of the gold clause.
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Hawera Star, Volume LIII, 2 August 1933, Page 5
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126HUGE AMERICAN LOAN Hawera Star, Volume LIII, 2 August 1933, Page 5
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