OVER-SUBSCRIBED
COMMONWEALTH LOAN. I FIVE MINUTES SUFFICED. (Received 9 a.m.) LONDON, July 23. The Australian Comitnonwealth loan has been over-subscribed. The cash lists were open only five minutes. The issue is a redemption and conversion loan of £13,469,981, with a currency of six years at 3 per cent. It is expected that £36,577 will be saved annually in interest and exchange. Xft is understood that a large percentage of the subscriptions came frorn banks, insurance companies and other business concerns. Consequently, less than usual difficulty is expected from “stagging.” Mr S. M. Bruce, High Commissioner, is gratified at its success after several months of disturbed conditions on the market, and he thinks it augurs, well for subsequent operations.
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Bibliographic details
Northern Advocate, 25 July 1935, Page 7
Word Count
118OVER-SUBSCRIBED Northern Advocate, 25 July 1935, Page 7
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