NEW ZEALAND LOAN.

New Zealand Herald, Volume XLVII, Issue 14530, 18 November 1910, Page 5

NEW ZEALAND LOAN.

r. THE LONDON FLOTATION. By Telegraph. Association.—Copyright

London, November 16. ji The New Zealand 3A- per cent, loar a of £5,000,000 is. quoted at 96. it The underwriters receive over 11 g per cent, of the loan. The scrip is quoted at about 10s i- discount, and the impression is that >r the public abstained from applying iv for the loan, hoping to buy cheaper S later, but a decline is regarded as lT unlikely as holders are very strong. s n STATEMENT BY SIR JOSEPH WARD. Speaking in the House of Representatives yesterday afternoon, Sir Joseph Ward stated (wires our Wellington representative) that he had received the following cable t ' from the High Commissioner with reference i to the New Zealand loan of five millions: — 1 " Applications for loan closed at four o'clock t to-day. The result was that applications for £544,000 were received, and the underwriters take the balance, £4,656,000." Sir Joseph Ward also read another cable from , the High Commissioner regretting that his . cable of November 14 (referring to. the influence of the* Veto Conference and the 7 Birkbeck Bank trouble on the loan) had been published in the Lsndon Times. Ho (Sir Joseph Ward) did not find fault with the correspondent of the London Times, but • he regretted that lie was compelled to make 3 a public statement on the matter prej maturely in the House. New Zealand bad r the whole of the loan at £98 10s at 3; per cent. The country now had its moneys t provided for certainly over 12 months a ahead, and there was no intention or no ® chance whatever of the Dominion goiug ' upon the market in London at any time I within that period. The ordinary finances - of this country as regards revenue, and in . every way, had never been healthier. The , producers of the country had never passed through a more favourable time on the whole than they are now passing through. He felt that it would only bo a matter of a short time when our stocks would be as strong as they had ever been before.