FISCAL ENTERPRISE

Northern Advocate, 25 November 1925, Page 5

FISCAL ENTERPRISE

| BANKING EXPANSION I

STATE AND MUNICIPAL LOANS.

OUTLET FOR CAPITAL.

I (Received 10.50 a.m.), I NEW YORK, November 24. ■ The National. City Bank of New I York has decided to have a permanI ent representative in Australia with a view to- furthering financial connecJ tions between the two countries, j Mr J. F. Lauderdale, who has been j lately representing the National Bank i in London arid formerly had experiI ence in Scandswiavia and other Euro- * peian; countries, has been appointed to j the new position in Austr&lia., j It, is; understood that the National J Bank is not only interested the | flotation of loans for governmental j organisations in Australia, but will, j it' is believed, . be ready to advance ' funds to municipalities and public 1 utilities ' for far-reaching improve--1 menis. J The National Bank does a large j business in direct placement of its • bond's among small investors in the j United States -and it is believed that jit would underwrite enterprises at | rates competitive with London. 1 Large American financial houses are desirous of finding a further outlet for American capital in worthwhile foreign investments, ( especially since the American Government specifically approved of such. The National Bank's entrance into the Australian field is considered a j-strong mark of the confidence of American business circles in continued j Australian development along so&'nd I lines. —A. and IST.Z.