She New Loan Insufficient.
Wellington, Oct. 31. Calculations have been made showing that thß* conversion loan will not realise sufficient to cover the Amount of the debentures to bs paid off in November uwd March by a considerable Bum. Oae paper here pats ifc at .£70,000, but tho Government) bolieyo this is an over eitim&tc!, as the ezpenaea of raising thfl loan will not ba bo he»?y as was RUtioipated. The amount of £2,700,000 was fixed aa the enm required by one lioan Agonta aided by the advioa of fche Bank of New Zealand, and ie is supposed tbat they expeof.ed a better prioa thnn was obtained, or they would have made it. more in order to cover the possibility of ft deficiency. Whatever earn is required to make good the denojt can, it is bolieved, be obtained by floating a further small parcel of 3£ per cent debennrea, but nobody here seems to quite understand the exact nature of the position.
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https://paperspast.natlib.govt.nz/newspapers/NEM18891031.2.14.3
Bibliographic details
Nelson Evening Mail, Volume XXIII, Issue 279, 31 October 1889, Page 3
Word Count
162She New Loan Insufficient. Nelson Evening Mail, Volume XXIII, Issue 279, 31 October 1889, Page 3
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