NEW ZEALAND LOAN.
MINISTERIAL STATEMENT. The following statement was made to a reporter by the lion. W. Nosworthy (Minister of Finance) last evening:— As regards the last' loan and the comments on its undersubscription by the public, the following facts dispose of the question as affecting this dominion's credit; —Our loan of £7,000,000 issued at fill 10s, rate 11 per cent., was successfully underwritten before issue, thus ensuring the dominion receiving the proceeds. When the loan was closed after issue to the public the underwriters were left with 85 per cent, ultimately to dispose of. Following our loan, the London County Council issued £0,000,000 on the same terms as ours, the underwriters being left with 75 per cent. The next loan issued was New South Wales £0,500,000 at £9B 10s, rate 3 per cent., and the underwriters were left with 08 per cent., notwithstanding the more attractive terms for investors. Uy way of comparison it may be mentioned that the interest yield to investors in the three loans was: — New Zealand £4 15 .1 London County .. .. .. 415 3 New South Wales .. .. 5 1 Ci
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Bibliographic details
Otago Daily Times, Issue 19497, 4 June 1925, Page 13
Word Count
184NEW ZEALAND LOAN. Otago Daily Times, Issue 19497, 4 June 1925, Page 13
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