SEVERE CRITICISM
THE NEW SOUTH WALES LOAN. OTHER STOCK MORE DESERVING. (Rec. sfi pjn.) London, March 27. The financial editor of the Nation and Athenaeum, commenting on the New South Wales loan, emphasises the lack of details in the prospectus. He then proceeds to call attention to the growth of the State’s debt and the increase of the annual charge thereon by £1.000,000 since 1924. “It is,” he says, “little short of a scandal that New South Wales is able to raise money so cheaply by means of the Trustee Act.” “Why,” he asks, “should its loans offering uncertain security be admitted as full trustee securities when English Electric Light and Power debenture stock are not treated in a similar way.”—A. and N.Z.
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Bibliographic details
Southland Times, Issue 19830, 29 March 1926, Page 7
Word Count
123SEVERE CRITICISM Southland Times, Issue 19830, 29 March 1926, Page 7
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