BRITISH LOAN.
CHANCELLOR’S CAUTION. LONDON, Nov. 6. It is understood that £30,00U,000 of the new 5 per cent. Government loan being offered to the public at 100 have been placed with the banks, insurance companies, and other large houses at 99i. The Financial News says that the explanation is that the Treasury is faced with absolute necessity to cover January-Februarv maturities totalling approximately £31,000,000, at a time when the money market, owing to several causes, will be even more perturbed and uncertain than at present. Had the Treasury anticipated such a favourable reception for the loan there would have been no reason for undertaking what is virtually an underwriting operation. The action of the Treasury was dictated by prudence, which, as events have shown, has been excessive.
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Bibliographic details
Manawatu Standard, Volume XLIX, Issue 291, 7 November 1929, Page 9
Word Count
127BRITISH LOAN. Manawatu Standard, Volume XLIX, Issue 291, 7 November 1929, Page 9
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