NEW ZEALAND LOAN

Otago Daily Times, Issue 15892, 11 October 1913, Page 9

NEW ZEALAND LOAN

PROSPECTUS ISSUED. Press Association—By Telegraph—Copyright, LONDON, October 9. The prospectus 1 of the New Zealand loan of three and a-half millions has been issued. Three months' interest is payable on February 1, and subscribers are given the option of converting prior to August, 1918, their holding of the new issue into 4 per cent, inscribed stock, repayable in 1943-63, at the rate of ■ £101 of stock for every £100 of debentures. Those so converting before the end of 1913 receive six months' interest on February L

PRESS COMMENT. LONDON, October 10. (Received Oct. 10, at 11.30 p.m.) The Daily Mail characterises the New Zealand loan, as cheap at 4 per cent. The Financial Timos states that the bonds are a good investment in tliem'selves, but as a mean 6 of exchanging them into stock they offer no advantages at the current market prioe. NO DETAILS AVAILABLE. (Fbom Our Own Correspondent.) • WELLINGTON, October 10. The Hon. J. Allen, Minister of Finance, when questioned this evening regarding the subject matter of to-day's cablegram regarding the Now Zealand loan, said that he would not divulge particulars as to the cost of the loan. Ho preferred to do this first in the House. It is understood, however, that the amount of the loan floated may prove to be £3,500,000 when the facts are all available. All the money being raised is for the redemption of loans coming due.