NEW ZEALAND LOAN.

Manawatu Times, Volume LXV, Issue 1848, 14 February 1913, Page 5

NEW ZEALAND LOAN.

FOR THREE MILLIONS. Press Assn—By Telegraph—Copyright London, Yesterday. tlt is officially stated that New Zealand is underwriting a three million loan, repayable between 1943 and 1963.

Six months' interest will be payable on Ist August. The Westminster Gazette says New Zealand is overdoing it. The mar ket did not expect the Dominion would demand anything like three millions, and the natural effect is to depress the markets. The Westminster Gazette say some of the usual underwriters are refusing to underwrite the loan. The New Zealand loan payments extend over four months. This, with accrued interest, makes a bonus to subscribers of about 275. FLOTATION UNSUCCESSFUL. RECEIVED WITH DISFAVOUR. BAD JUDGMENT. Press Astsn—By Telegraph—Copyright Received 2 a.m. London, Feb. 13. The Times says the underwriting of the New Zealand loan has been received with decided disapproval. The patience of the Stock Exchange underwriters had been exhausted owing to the existing glut. MR MASSEY SATISFIED. •Presa Association. —By Telegraph Marton, Yesterday. The Premier informed a Rangitikei Advocate representative this morning that the three million four per cent loan, at ninety-eight, was successfullv underwritten in London by Mr Allen. Mr Massey considers this exceedingly satisfactory. He has had a cable every day from London reporting progress, but lias not been able before to divulge information.