COMMONWEALTH LOANS

Nelson Evening Mail, Volume LVI, 18 July 1925, Page 7

COMMONWEALTH LOANS

LONDON AND NEW YORK <Bv Electric, Telegraph.—Copy right., i (Australian & N.-<. Cable Association.) LONDON. July 17. A Commonwealllt live million loan at 991,, with All bonus first interest, is being underwritten to-day. A fifteen million loan is issuing simultaneously in New York. NEW YORK. July 17. It is reported in banking circles here that the proposed Australian loan will bo .a Rank of England loan entirely. The Bank of England supervising the issue, while the Morgan Company will take charge of the part, sold in the United States. The amount is still in questii n. but it is estimated it will total 125 million dollars, with ICO million dollars placed in the United States tin 1 the remainder in England. The delay in the announcement of the flotation is reported to he due to Australians not being i til it "lv agreed on tho amount they wish to borrow, also tint arrangements through the Bank of England may ’have made the negotiations more complicated. It is believed the loan nitty lie offered early next week. Bonds will be sold at 991..

A later message states that the. Morgan Company has announced the purchase of 75 milliiia dollars worth of gold bonds from the Commonwealth of Australia. 1 hey are thirty year five per cent, bunds, and will be offered publicly on 20th July. Simultaneously an offer of five million pounds wortlh of Australian bonds will be made on the London market.