THE N.Z. LOAN

Southland Times, Issue 14577, 18 November 1910, Page 5

THE N.Z. LOAN

QUOTED AT 10s. XJIS. (By Tclepraph—Press AssociatloD -Copyright). LONDON. Nov. 16. New Zealand 3% per cents, are quoted at 06. The underwriters of the five million New Zealand loan receive over 75 per cent. The scrip i:, quoted at about 10s discount. There is an impression that the public abstained from purchasing hoping to buy more cheaply later on; but a decline is regarded as unlikely, as holders are very strong. STATEMENT BY FSS,ESUER. (Per United P-ess Association.) WELLINGTON, Nov. 17. When the House met yesterday the Premier announced that he had received the following cable from the High Commissioner : —"Loan closed to-day at 4 o'clock." The result is that application has been made for f34 4,000, the underwriters taking the balance, £4,656,000." He bad also received a copy of a cable which had been receive'd by the press to-day, and would appear in the evening paper announcing that New Zealand u ] ,£ per cents, were at 06.

The underwriters of the loan received over 75 per cent, and the loan scrip is quoted at about 10s discount. There was an impression that the public would hold off, hoping to buy cheaper later, but a decline was regarded as unlikely, as the holders were vm-y strong. The Premier slated that he had received a cable from the High Commissioner the general contents of which were confidential, in which Sir \V. HallJones said that he regretted to find that his cable to the Premier of the 1-lth inst. had been published in the London Times. This was the cable read in the House by Sir Joseph Ward on Tuesday containing the price at which the loan had been floated. Sir Joseph Ward referred to the finances of the Dominion, which, lie said, were never stronger or healthier both as regard revenue and in every other way. Producers had never passed through more prosperous times than at present. Trade generally was very active and the country was in a satisfactory condition all round. He made this statement spontaneously and not as" a result of any request from the High Commissioner.