SOUTH AUSTRALIAN LOAN.
> A COMPLETE FAILURE. Press Association.— Telegraph.Copyright. London, February 4. Tenders for the South Australian 3i per cent, loan of £1,200,000 were opened to-day. Only £434,000 was ottered. The syndicates abstained from tendering. The balance remains open at the minimum, but if a liberal discount is offered syndicates will probably take it. The failure of the South Australian loan is attributed to the high premium at which the loan was fixed, when the advisers suggested that the minimum should be 97. Another cause assigned is, that only 2 per cent, discount was offered on immediate and final payments. There were about 100 tenderers, the highest individual amount subscribed being £50,000, at Is premium. The opinion generally expressed in the City is, that it is madness of the other colonies to think of borrowing at present, unless they are prepared to place their loans at a lower minimum than 98. Adelaide, February 5. The Colonial Treasurer will not send definite instructions to the loan agents respecting the loan until further information has been received from the Agent-General, Sir Arthur Blyth.
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New Zealand Herald, Volume XXVIII, Issue 8483, 6 February 1891, Page 5
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181SOUTH AUSTRALIAN LOAN. New Zealand Herald, Volume XXVIII, Issue 8483, 6 February 1891, Page 5
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