AUSTRALIAN LOANS
TURNING TO AMERICA (Australian and N.Z. Cable Association.) NEW YORK, June 20. The New York World, in a financial editorial, states that the international bankers here and in Australia predict that the Commonwealth is on the verge of turning to New York for all its industrial and municipal loans. It, is explained that New York offers better terms to borrowers than London. Bankers here and in Australia believe that if the Commonwealth were pressed it would give American bankers all the privileges enjoyed by domestic, institutions. This agreement would be based on a provision that the l'>ited States would grant similar privileges to Australian banks in the future. In a conflict between the Federal and the States laws the United States interferes, because the State laws, more than the national, now restrict the operations of foreign banks.
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Bibliographic details
Poverty Bay Herald, Volume LIII, Issue 16373, 22 June 1927, Page 7
Word Count
139AUSTRALIAN LOANS Poverty Bay Herald, Volume LIII, Issue 16373, 22 June 1927, Page 7
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