AUSTRALIAN FINANCE

New Zealand Mail, Issue 1717, 25 January 1905, Page 20

AUSTRALIAN FINANCE

LONDON, January 17. The public subscribed the whole of the New South Wales loan of two milllOßS’ SYDNEY, January 17. The A gent.-General has advised the Premier that the cash applications for the New South Wales loan are considerably in excess of the two millions required. The list closed on Saturday. The exchange for Treasury bills and bondholders will remain open until the 2drd. Mr Carruthers explains that as the loan had been so largely over-applied for the list- had to be prematurely closed,’ as the option had been given to holders of bills redeemable in March and .Tulv to take up the new stocks. y SYDNEY, January 18. The State Premier (Mr Carruthers) says it must not be concluded from the success of the redemption loan that the difficulty of borrowing in the London market is relieved. The success was due to the care exercised in floating the loan. It would have been prejudicial to the State had it proved a failure, therefore arrangements had to be made that success would be assured. The result shows the wisdom of the advice the Treasurer obtained and fok Uimd.