STATE ADVANCES.
£1,000,000 LOAN FLOATED. WELLINGTON, July 22. Mr Massey states that the £1,000,000 loan notified yesterday is for the State Advances Department. He had placed the order for this some time ago, and was pleased to find that it had been secured on the same favourable terms as the £5,000,000 loan floated in May. There was difficulty in the way of transferring the money to New Zealand on account of the high rate of exchange. It would therefore be invested in London for some little time in short-dated loans.
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Bibliographic details
Otago Witness, Issue 3672, 29 July 1924, Page 53
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90STATE ADVANCES. Otago Witness, Issue 3672, 29 July 1924, Page 53
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