The Queensland Loan.

Nelson Evening Mail, Volume XXV, Issue 126, 29 May 1891, Page 2

The Queensland Loan.

The Bank of England to the Mescue. "j ;.

„, , t a - London, May 27. Ihe result of the Queensland loan surprised even the pessimists. Among the reasons alleged in the oity for the astoundlug failure are the distrust of Queensland's Republican tendencies, the refusal of the Colony to contribute to the naval defence sohome, and her disposition to follow an isolated policy on other questions. The Stock Exchange manifests delight at the failure, and prediots that stock will be seoured at as low a pvioe as 90. It suggests the temporary renewal or" the 6 per cents whioh have matured, and urges the with, drawal of the £300,000 whioh was offered, on the ground that it i B too small a line, Dealers think it a mistake to keep the loan open, as further subscriptions are unlikely. The Queensland loan is quoted at one oer oent discount.

Ihe Times saya the loan ought to be con* fined to the redemption of debentures, that the time was badly ohosen for launching it, the syndicates who usually tender being too deeply involved to operate, and the rate of. interest too low.

The brokers complain that the tenders were opened in private. The Daily News thinks it was rash to offer a loan without previously Beouring tenders from the Banks or ascertaining whether syndicates would take it up.

Brisbane, May 28. la oonneotion with the failure of the Queensland loan, it is stated that the Bank of England being fully poßseaaed of the faots haa expressed its willingness to assiat the colony to promptly meet its engagements, and tnerefore no difficulty will be experienced iu meeting the payments due on the Ist tfuly,