THE £4,500,000 LOAN.

Poverty Bay Herald, Volume XLI, Issue 13291, 29 January 1914, Page 6

THE £4,500,000 LOAN.

ANOTHER LOAN WANTED BEFORE END OF THE YEAR. THK PREMIER'S EXPLANATION. (Per Press Association.) WELLINGTON, this day. Regarding the proposed New Zealand loan mentioned m the cable messages, Mv Massey, m .an interview with the Evening Post representative, said : "We liave to raise an unusually large sum of money this year by reason of the fact that so many short-dated debentures fall due between November and December 31st. We have, of course, to raise a certain amount of money for public works and for the lending departments, and these facts, taken together, necessitate our going on the London market for a. very much larger sum than usual. Our agehts advise that tlie credit of the dominion stands well at present, and m view of that, and seeing that there is an appreciable drop "m the price of . money at Home, it is understood there will, be no difficulty m placing the loan. The greater part of the amount raised will be required for ordinaiy development purposes, and for the requirements jof tha lending departments. "We shall require another loan before the end of the year, to enable us to redeem a large amount of short-dated debentures which are fallitvr due. It might b© added that though the borrow- 1 ing seems very heavy, the net increase of indebtedness for the yesr will not be above the average." _