NEW FEDERAL LOAN
DECISION OF FREMIERS £8,000,000 TO BE RAISED LARGER PLAN ABANDONED By Telcßraph—Press Association— Copyright (Received October 27, 0.5 p.m.) SYDNEY. Oct. 27 A message from Melbourne says it is understood that, the Premiers' Conference to-day agreed lo the flotation of an internal loan of £8,000,000 at 3J per cent, with an underwriting fee of 10s, making Hie effective percentage £3 16s. . The conference passed* a resolution urging the Commonwealth Bank to find a sum not exceeding £2,250.000 for the assistance of wheat growers in the various States. The Melbourne correspondent of the Sydney Morning Herald states that the Premiers abandoned the original proposal [or an internal loan of £20,000,000. The Prime Minister, Mr. J. A. Lyons, informed the Premiers that the associated banks considered that it was not advisable to float a funding loan at this juncture.
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21325, 28 October 1932, Page 11
Word Count
140NEW FEDERAL LOAN New Zealand Herald, Volume LXIX, Issue 21325, 28 October 1932, Page 11
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