COLONIAL LOANS IN LONDON.
Br Electric Telegraph.—Copyright, SECURITIES FALLING. MONOPOLISING BROKERS. (per press association.) London, April 15. Victorian and other securities have fallen a half per cent. One of the brokers ventured an advance of 5s to 7s 6d, and monopolised the market. London, April 16. The success of the conversion of the New Zealand loans, now going on to the extent of LBOO,OOO, is assured. London, April 18. The Economist considers the failure of
the Victorian Loan due quite as much to the internal condition of the market as the excess of the Victorian demands, and it would have been quite right had the Australian Banks underwritten the loan. It adds that no colony can now expect to borrow as freely as formerly. The Statist states that the result of the Victorian Loan arises from that colony truckling to the working classes, which has produced a feeling of distrust in England. The direct cause of failure it attributes to the high price at which the minimum was fixed, and the constant borrowing indulged in by Victoria.
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Bibliographic details
New Zealand Mail, Issue 999, 24 April 1891, Page 31
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177COLONIAL LOANS IN LONDON. New Zealand Mail, Issue 999, 24 April 1891, Page 31
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