THE HALF-MILLION LOAN

Otago Daily Times, Issue 12036, 7 May 1901, Page 2 (Supplement)

THE HALF-MILLION LOAN

SUCCESSFULLY FLOATED. THE AVERAGE OVER PAR, . . . WELLINGTON, April 23. - The half-million 4 per cent, debenture loan put on the market by the Government under the authority of the Aid to Public Works and Land for Settlements Act has been floated. The tenders, which closed at noon to-day, were opened in the presence of the Colonial Treasurer and the Auditorgeneral. There were 110 tenders received for an aggregate sum of £761,300 at an average price of Is above par, Ninety tenders were amounts for £5000 and under. The amount tendered for over par was £140,000. The average of the total over par was.ls 6d. ' About £150,000 was tendered for from Australia. No tenders were sent in by any of the Government departments of the colony. The Premier says that on the whole the loan is very and he is well pleased. April 26. The allotment of the loan has been completed. Those who tendered for £5000 and under receive allotment in full at the price tendered. These represent about 90 per cent, of the total number tendering. • This was done with the object of spreading the loan amongst as many us possible. (Frou Oor Own Correspondent.) WELLINGTON, April 23. The Premier is very well pleased with the tendering for the loan, and says it is • on the whole very satisfactory. He is specially pleased with the large number of tenders for small parcels which were received, as the Government have for a long time been working to get smaller people interested in the colony's stocks. WELLINGTON, April 30. The average price of tenders accepted in Connection with the half-million loan is £100 2s. The average price of tenders over par which wero accepted was £100 7s 6d. The highest premium offered was £2 aud the lowest 6d.