GISBORNE FINANCES.
£50,000 LOAN FLOATED.
The balance of the Gisborno Borough Council loan of £50,000 has been successfully floated by the council's broker. About half of the loan has been taken up by Southern investors. The loan has, in fact, been slightly over-subscribed. The council is pleased with the -success of the negotiations, especially in view of the fact that the same have been completed within the 30 days granted to its broker, and in face of the opinion held in financial circles that the rate fixed—sJ per cent.—was hardly sufficiently attractive for investors at this juncture. The bulk of the debentures have been applied for by Southern investors, together with a few at Auckland and Wellington. Only a little over £4000 was subscribed locally.
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Bibliographic details
New Zealand Herald, Volume LIII, Issue 16213, 26 April 1916, Page 8
Word Count
125GISBORNE FINANCES. New Zealand Herald, Volume LIII, Issue 16213, 26 April 1916, Page 8
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