American Borrowings

Hawke's Bay Tribune, Volume XI, Issue 238, 12 October 1921, Page 6

American Borrowings

A NEW YORKER'S VIEWS. ; VICTORIAN PROPOSAL NOT ADMITTED. QUEENSLAND’S ACTION DEFENDED. (Received 12, 2.25 p.m.)

London, Olt. 11. The Australian Press Association interviewed Air. Sheldon, London representative of the Blair Company, New I York bankers, who are reported to I be negotiating with Victoria in refer- | ence to floating a loan in New York ion similar terms to Queensland. I I Mr. Sheldon refused to discuss the j Victorian proposition and refused even ■ to admit that Victoria made such a , proposition, but warmly defended ■ Queensland’s action. I Although not related to his firm, he I pointed out that the National City ‘ Company, an eminent institute with a branch in London had world-wide 'connections. Ho was of opinion that Queensland’s recourse to New York ■ would eventuate better results than were possible under the terms of the New South Wales loan. He denied that Queensland was gambling upon the future appreciation of the exchange, unless the sterling further- permanently depreciated which the British authorities regarded as infpossible.—(A. and N.Z.)