CITY LOAN CONVERSION.
At yesterday's meeting of the City Council a letter was received from the manager of the National Bank, stating that the £11,900 conversion loan had been allotted in £100 debentures as follows : Five at £5 0s 6d premium ; 10 at £5 ; 10 at £4 lis ; . 20 at £4 10a; sat£4 6s ; sat£4 Is ; and 64 at £3 premium. The Mayor said this was very satisfactory. The expenses had been about £80, so that the Council would net about £360. He had been disappointed thab so many of the debentures had been allowed to go out of Auckland, and that the interest had not been kept in the place. Half the money would go to England. An offer had come from the old country through the bank for the whole of the £11,900 at £103, so that completely threw out all who it had been thought would benefit locally. No one under £103 got anything, and the offers at that price were allotted 50 per cent. The offers had totalled £47,700. ■ :
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New Zealand Herald, Volume XXXI, Issue 9616, 14 September 1894, Page 5
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173CITY LOAN CONVERSION. New Zealand Herald, Volume XXXI, Issue 9616, 14 September 1894, Page 5
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