INTERNAL ISSUE
LARGE OVER-SUBSCRIPTION EXCESS OF £2,500,000 (Received 1 May 31, 12.45 a.m.) SYDNEY, May 30 The Commonwealth £5,000,000 loan was over-subscribed by more than £2,500,000, The Daily Telegraph says the success shqukl mean an immediate fillip to employment for, in addition to the object of the loan—the raising of money for public works —the unprecedented response should be followed by an easier money market in Australia and a more confident tone in London toward Australian conversions. Commenting on tho success of the issue tho chairman of the Australian Loan Council, Mr. Massy Greene, said it was a magnificent result for a ninedays' campaign. It represented the most encouraging financial achievement to date in the process of economic recovery. . , The over-subscription was all tlie more noteworthy when it was remembered that the issue was not underwritten.
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Bibliographic details
New Zealand Herald, Volume LXX, Issue 21505, 31 May 1933, Page 11
Word Count
136INTERNAL ISSUE New Zealand Herald, Volume LXX, Issue 21505, 31 May 1933, Page 11
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