LOAN OPERATIONS.
SOUTH AUSTRALIA INDEPENDENT. Received June 4, 9.45 a.m. ADELAIDE, June 4. The South Australian Government will not share in tho £12,000,000 loan which is being raised by the Commonwealth Government. South Australia is raising half a million from the State Savings Bank on better terms, This half-million will be used for the 1934-5 works programme and is being obtained at' 3i per cent at par for seven years. The Federal Prime Minister (Mr J. A. Lyons) announced last week a new loan of £12,000,000 to close not later than June 18. The rate of interest will •be 31 per cent and the issue price £9B 10s. The loan will be repaid at par in fourteen years. The average yield to tli investor will be 3f per cent. These terms are the lowst on which a new Commonwealth internal loan has ever been offered.
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Bibliographic details
Manawatu Standard, Volume LIV, Issue 157, 4 June 1934, Page 2
Word Count
145LOAN OPERATIONS. Manawatu Standard, Volume LIV, Issue 157, 4 June 1934, Page 2
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