THE MONEY MARKET.
AUCKLAND LOAN FLOATED. STRINGENCY IN ENGLAND. (Peh United Pkebs Association.) AUCKLAND, April 19. The .Mnyor reported to the City Council that the £50,000 loan liad been successfnllv floated already. 'rtio manager of an Auckland bank has been mimed bv cablegram that an «t----tempt to float 'the Vancouver city loan of £1,000,000 in 1/mdon waa_a comparative failure. Jt was underwritten at 94;!, and tlio underwriters were compelled to Kike 91 per r.wil. 'llic stringency is attributed to the general condition in the world's money market consequent on the It-ilo-i'urki&h war, the British ooal strike, affairs in America, and other influences. It is also stated that as n result of the, recent Imperial legislation the restriction of the investment of trust moneys to consols and such like securities had been to a hv»e extent removed, with the result that there is now a larger field of remunerative investment at Home.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ODT19120420.2.87
Bibliographic details
Otago Daily Times, Issue 15433, 20 April 1912, Page 12
Word Count
151THE MONEY MARKET. Otago Daily Times, Issue 15433, 20 April 1912, Page 12
Using This Item
Allied Press Ltd is the copyright owner for the Otago Daily Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.