LOAN CONVERSION
THE AUSTRALIAN ISSUE CONDUCTED WITH SKILL. r London, February 23. (Received Feb. 25, at 5.5 p.m.) The Economist says; The Australian conversion appears to have been niceiy balanced. Indeed, some of these operations have been conducted with consummate skill: The market is now entitled to, and will have, breathing space. There is no reason, however, why Australian credit should not improve further, as wool and general economic conditions of the country are on the up-grade. The next problem before the Commonwealth is to deal with the dollar loans in New York, which can be purchased to yield about 5.G per cent., with redemption of about per cent, more than on sterling loans. This is a highly anomalous position and the Government might well make a beginning by calling up the 60,000,000 dollars 4i per cent. 1956 loan.
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Bibliographic details
Otago Daily Times, Issue 22197, 26 February 1934, Page 9
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139LOAN CONVERSION Otago Daily Times, Issue 22197, 26 February 1934, Page 9
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