Page 4 Advertisements Column 8

Southland Times, Issue 17620, 7 April 1914, Page 4

Under date February 27 the London correspondent ot the Southland Times wriUs: —The capriciousness of the British public in the matter of taking up new issues - Governmental, municipal, or otherwise —has been startlingly emphasised by the fate of the city of Dunedin -4% per cent, debenture issue this week. ” There was practically a •‘giltedged” security, issued on very reasonable terms at a time when money was supposed to be spcially plentiful and. investors “right on the feed,” and yet wo learn that the underwrites of the Dunedin loan have had to take up something like $4 per cent, of the issue! The peculiar thing is that a sllmlar issue on behalf of Christchurch, issued practically simultaneously, was fully subscribed by the public. Evidently luck counts as well as judgment when seeking to borrow from the great 8.P., and it is quite evident that for Governments, mulncipalities, or companies, which must have money, the need of underwriting their issue exists in times of plentiful money just as much as it docs when money im “tight.”