Internal Loan May Be About £14,000,000; Interest Rate Not Fixed Yet
CHRISTCHURCH, This Day. No decision on the terms of issue of the internal loan which the Government has announced it will, raise this year has yet been made, according to advice received from the Minister of Finance, the Hon. W, Nash!
There has been no official statement of the amount of the loan, but it is generally accepted that the amount will be somewhere about £14,000,000.
An announcement of the terms of the loan is being awaited anxiously by the market, which has Steadfastly re- j-' fused to invest witTT local bodies at v if 3£ per cent., the maximum rate al- jr. , lowed by the Government. The terms > on existing Government loans are slightly below 4J or 4 per cent. j.is In a letter replying to an inquiry made by the Press, Mr Nash says:— ‘ln regard to the proposal to issue A public loan in the Dominion, as A already announced, the Government has this matter in hand, but pending a : decision as to the terms of issue, lam i not in a position to make a statement in the meantime.”
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Northern Advocate, 23 March 1939, Page 7
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194Internal Loan May Be About £14,000,000; Interest Rate Not Fixed Yet Northern Advocate, 23 March 1939, Page 7
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