AMERICA AND AUSTRALIA.

Poverty Bay Herald, Volume LI, Issue 16893, 25 November 1925, Page 7

AMERICA AND AUSTRALIA.

El RTII Eli INC FINANCIAL RELATIONS. NEW YORK BANK SENDS REPRESENTATIVE. (J.’.ec. 'l'd. Copy light—United Press Assn.) 1 Australia 1 and ;\.Z. Cable Association.; (Received November 25, 11 a.in.) t NEW \ ORK, Nov. 24. The National City Bank of New York lias decided to have a permanent repr;> sontative- in Australia with a- view to furthering the financial connections between tho two toinnlrics. Mr. J. E. Lauderdale, who has been lately representing the National Bank in Loudon avid who formerly had experience in Scandinavia and other European countries, has been appointed to the new position in Australia. It, is understood that- the National Bank is not only interested in- Ihe flotation of loans for Governmental organisa lions in Australia, lull will, il is believed, be ready to advance funds In municipalities and public utilities; for far-reaching improvements. (Received November 25, 11 a.in.) NEW YORK, Nov. 24. The National City Bank does a large business in direct placement of its bonds among small investors in the. United States, and it is believed it would underwrite enterprises at rates competitive with London. Large American finanical houses are desirous of finding a further outlet for American capital in sound foreign investments, especially since the American Government lias specifically approved of such. The. National Bank’s entrance into tho Australian field is considered a strong mark of confidence of American business circles in continued Australian development along sound lines.