COMMONWEALTH LOAN
QUICKLY OYER-SUBSCRIBED. CASH LISTS OPEN FOR FIVE MINUTES. (United Presd Association—By Electnc Telegraph Copyright! LONDON, July 24. The Commonwealth redemption and conversion loan was ovei'-subsci'ibed when it was offered for public subscription to-day. The cash lists were open for only five minutes. . The terms of the loan comprise a currency of six years and an interest rate of 3 per cent. It is expected that £36,577 will be saved by Australia annually in interest and exchange, says a Canberra message. It is understood that a large per centage of subscriptions to the loan came from hanks, insurance companies and other business concerns. Consequently less than usual difficulty .was expected from “stagging.” _ ' Air. S. if. Bruce, the High Commissioner. is gratified at its successAfter several months of disturbed conditions the market augurs well for subsequeixt opei-ations.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HAWST19350725.2.56
Bibliographic details
Hawera Star, Volume LIV, 25 July 1935, Page 5
Word Count
137COMMONWEALTH LOAN Hawera Star, Volume LIV, 25 July 1935, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Hawera Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.