THE NEW ZEALAND LOAN.

Oamaru Mail, Volume XXXVI, Issue 11658, 13 June 1912, Page 4

THE NEW ZEALAND LOAN.

THE BEST WAY. [By Electric Telegraph-Copyright.] o?er Press Association.) London. June 12. The Times says that although many riiw short-dated loans with disfavor, wobablv it was Xew Zealands best way out of a difficult position. are of opinion that it would lw been better to finance the issue of a long i per centum loan at a triile urn ei p<k to pav possibly a good deal over four per cent, for, the.chance ot a renewal two years hence. Received June 3, at 10.5 a.m. London, June. 12. The underwriters receive 87 per «nt. of the New Zealand loan. ~-,'+' The Times says the market did not like the issue, not only because the, amount is inconveniently large hut because the vield is so high as to make existing colonial securities look clear. No doubt the terms of tins loan more nearlv represent the facts as to the, credit of New Zealand and Rome other countries than the ideas hitnerto prevailing in official-circles, i o?er Press Association.) Dunedin. June 13. Prominent financiers and mercantile men seen bv a. Dunedin Star representative express the opinion that the floating of a four million loan for two years showed distinct weakness in our finance. Monev must become tighter and rates higher in a-very short time. Sharebrokers pointed out that the! Indian loan of three millions floated m London in April last was underwritten to exactlv the same amount, viz , 8/ per. cent of the total was left m the hands of the -underwriters.. Home P a P e * s commenting on this, said evidently the English investor now wanted a higher vate of interest on his money.