NEW COMMONWEALTH LOAN

New Zealand Herald, Volume LX, Issue 18521, 4 October 1923, Page 9

NEW COMMONWEALTH LOAN

£7,500,000 AT 5 PER CENT.

GOOD RESPONSE EXPECTED.

ADVANCE IN CREDIT.

By Telegraph— Association—; ,• ■ (Received 5.5 : p.m.) Renter. LONDON. Ort. »■■; A Commonwealth loan of £7.500,000, bearing interest at 5 per cent., to bo issued ;at 99, is being underwritten. : The loan will ?be repayable :in 1935-45. The final instalment is; payable in December 31, and six months' interest will be payable on June 1, 1924. The Morning Post says ; that > although . the market was scarcely ... prepared for the / immediate issue of the Commonwealth, loan for so .large an amount, it .seems highly probable that there will be a good; response. We are glad to notice, among the objects of the loan, expenditure ; for set-. tlement, which is ' suggestive and encour-; ; aging, and on which fuller information would be interesting. -' The Common.wealth' good credit • promises to ensure | the success of the lo^n. ':';''..:'" ■•'■'■■■■ ■'■ • The Daily Telegraph quotes the issue prices of previous loans, and adds: It J will be seen that the credit oi tha Commonwealth has materially advanced since 1921. ' . The Financial Times says the Imperial Conference and the prominence given to the problems of Empire development create a congenial atmosphere for loans. An interesting and new point in the prospectus is the sinking fund payment. The stock; can be recommended unreservedly to those requiring high-class colonial security. \ ,