FEDERAL FINANCES
DEADLOCK OVER LOAN QUESTION OF INTEREST RATE SYDNEY, Oct. 28 The Melbourne correspondent of the Sydney Morning Herald reports that tho Premiers' Conference declared itself in favour of an immediate internal loan of £8.000.000. the issue to be at par, bearing interest at a rate of per cent and having a currency of 10 years. A deadlock was reached when tho Commonwealth Bank intimated that il would not underwrite the loan at less than 4 per rent. Ultimately the conference suggested f hat Sir Robert Gibson, chairman of the Commonwealth Bank Board, should convene a conference of I lie trading banks of Victoria and New South Wales to review the whole problem. Sir Robert informed the conference that he was prepared to do that.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19321029.2.67
Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21326, 29 October 1932, Page 9
Word Count
126FEDERAL FINANCES New Zealand Herald, Volume LXIX, Issue 21326, 29 October 1932, Page 9
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.
Log in