GOVERNMENT FINANCE.
FUNDS FOR THE TREASURY.
By Telegraph—Press Association.—
(Received February. 24/10.30' p.m.)
> ' . ' London, February 24. The Treasury paid an average of 2$ per cent, for £4,000,000 worth ': of Treasury bills sold yesterday, though the market rate for March bills was 1$ per cent. ■ It is rumoured that the Bank of England tendered at the last moment to prevent the failure of the issue..
The poor price caused three months bills to rise from 2- 5-16 per cent, to 2§ per cent. ,- '
The Daily Telegraph protests against the Government' intention, as indicated by Lord Crewe, to take the whole ;of the balance of the sinking > fund, v which is, estimated at £10,000,000, in order to make up the expected deficiency in the Budget. .
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Bibliographic details
New Zealand Herald, Volume XLVII, Issue 14304, 25 February 1910, Page 5
Word Count
123GOVERNMENT FINANCE. New Zealand Herald, Volume XLVII, Issue 14304, 25 February 1910, Page 5
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