THE N.S.W. LOAN.

Hawke's Bay Tribune, Volume XI, Issue 238, 12 October 1921, Page 5

THE N.S.W. LOAN.

OVERSUBSCRIBED IN LONDON. (Received 12, 9.20 a.m,) Loiiuuii, October 11. lhe New South Huies loan nas been over-buosenbed. Sir 1. A. Logman abates that tne success oi the loan is uuo in no slight uegree to the increased interest in i\ew bouth Wales affairs, loilowing upon Air. biorey s visit lo iiaigiaiiu.—(A. and N.Z.) WALL SIREEI WANTS MORE. Washington, October 10. lhe Australian .Cress Association Icarus, authoritatively tuat H an street iiuanciers ,attracted by the success oi tlie Queensland loan, are making inquiries direct as to whether any other governmental body m Australia is requiring money, since there is plenty of money available on the same terms.— (A. and N.Z.) THE DOLLAR BASIS. MR THEODORE EXPECTS BENEFIT Brisbane,' October 11. Mr. lheqdore stated that the loan was a straiglitout dollar loan with interest and sinking fund on the dollar basis, thus Queensland would get the benefit of tho inevitabfe improvement in tho rate of the dollar exchange over a period of 20 years, SAME HATE AS ENGLISH LOAN. (Received 12, 10.45 a.m.) Adelaide, October 12. Mr. Miller, Governor of the Common wealth Bank, says that owing io the present favourable rate of exchange the Queensland loan will work out at nearly the same rate as the money borrowed in England.—(A. and N.Z.)

FEDERAL TREASURER REGRETS BORROWING.

Melbourne, October 11. Iho Federal Treasurer considers Queensland’s American borrowing regrettable, firstly because it is tilt first time an Australian State has gone outside the Empire for financial accommodation; secondly, the rate of interest, 7 per cent., for Government securities is very high. LOAN FOR A’ICTORIA. (Received 12. 10.45 a.m.) Melbourne. October 12. Air. AlcPherson, Treasurerexplains that the cable is correct that American financiers are negotiating a loan for \ ictoria, but such negotiations as had been entered into with British houses would be carried out.—(A, and N.Z.) [An earlier inessagc said the Treasurer. the Hon. W. M. McPherson, oiiestiqnod regarding the possibility of v ictoria negotiating a loan in America, declared that the Government would stick to London for loans.]