NEW ZEALAND LOANS.

New Zealand Herald, Volume XXXIX, Issue 12074, 18 September 1902, Page 5

NEW ZEALAND LOANS.

A RUMOUR CONTRADICTED. STATEMENT BY SIR J. WARD. [BY TELEGRAPH.— ASSOCIATION.] Wellington, Wednesday. Just before the House adjourned for dinner Sir J. Ward said he desired to make a statement regarding a telegram from Dunedin, which appeared in the evening paper of that date. That telegram read as follows: — " Air. T. E. Taylor is the authority for the statement that when he was in Melbourne word was received in that city that Mr. Seddon had attempted to float a million loan in London, but that the loan was not taken up." "I should like to state," continued Sir Joseph Ward, " that there is no foundation for the statement. It ia wholly and absolutely untrue. Mr,. Beddon has not attempted to float a loan of a million, or any other sum, in London. No arrangement has been made for the flotation of any part of the loan authorised by the House, in London." Mr. Massey: In the colony? Sir J. Ward: " I am talking about London. This statement is absolutely untrue. I know everything that has transpired regarding it, and every matter connected with the Treasury since Mr. Seddon has been out of the country, and I know everything in the shape of inquiries made regarding the position of the London money market, and I am slating, on behalf of the Government, that no arrangements of any kind were made by Mr. Seddon for the flotation of a million loan, or any other loan in London, and I give the statement an unqualified and absolute denial." Mr. Tanner: "He (Mr. Taylor) does not give tho statement on his own authority. ' Sir J. Ward: " I am not saying anything about Mr. Taylor. I am talking about the statement. As a matter of fact, I know from communications I have bad with Mr. Seddon that the very opposite is the case, so that such a statement as that is a mere baseless rumour, circulated probably, I should say, by some people with the object of doing the' colony harm." Mr. Tanner: "And passed on here." Sir J. Ward: " And passed on here probably by the same poop'le. No ructions have been given to the Agent-General, either by the Government or Mr. Seddon, to float a million or any other loan." * [IJT TELEGRAPH.—SPECIAL CORRESPONDENT.] Wellington, Wednesday. The statement telegraphed from Dunedin to the effect thai Mr. Seddon had attempted to float a million loan in London but that the loan was not taken up has attracted a considerable amount of attention here and draw from the Acting-Premier an emphatic denial. It will probably be found that, though no actual attempt was made to raise a loan, Mr. Seddon made inquiries a3 to whether a loan could be successfully floated, but found the time was not opportune. Indeed, more than one company doing business hero has received information to this effect from its London representatives. A gentleman interested in matters financial here informs mo that in any case a loan would hardly bo placed in London before November next, as at this time most of the leading financiers are out of town. Meantime it is stated that the Government is raising money here on short-dated debentures, no doubt on account of the balance of last year's loan.