A NEW ZEALAND LOAN.

Manawatu Standard, Volume 9185, Issue 9185, 8 April 1910, Page 5

A NEW ZEALAND LOAN.

LARGE PROPORTION SUBSCRIBED

(Per Press Association.)

(By Electric Telegraph—Copyright./ LONDON, April 7.

The public have subscribed eighty-five per cent of the New Zealand loan debentures.

A large proportion of the applicants declared their intention to convert them into inscribed stock when fully paid up.

STATEMENT BY THE PREMIER,

(Per Press Association.)

DUNEDIN, April 7. Speaking of the- New Zealand loan of £1,850,000 just placed on the London market, Sir Joseph Ward stated to-night, in. reply to a c}ucstion by a representative of the Otago Daily Times, that it was being raised under the Public Works Act and had nothing to do with the State Guarantee Department. He had received advice that the loan had proved very successful. Tho loan was underwritten, but 80 per cent had been taken by the public, and the balance of 20 per cent was in the hands of the underwriters.

It was a comparatively email amount, both from the point of view of New Zealand and the point of view of the underwriters, so that it is regarded in London ae a very successful, financial operation.