CANADIAN LOANS

Stratford Evening Post, Volume II, Issue 240, 11 May 1933, Page 3

CANADIAN LOANS

Press Association.—Copyright. Ottawa, May 9. Power to raise by way of a loan an amount not exceeding £150,000,000 will be sought by the Minister of Finance, Mr. E. N. Rhodes, in a resolution, of which notico was given to-day, for the purpose of paying or redeeming the whole or portion of the loans or obligations of Canada and for purchasing and withdrawing from circulation the unmatured securities of Canada. The resolution does not necessarily mean that borrowing will be made up to the amount named. The Dominion has maturing debts this year amounting to about £55,994,200. It is anticipated that the refunding portion of the new loan will be issued at 4 per cent., with the expectation that the selling price will mean a yield of slightly over that rate. The borrowing will probably be in Canada, with the exception of £12,000,000 payable at New York, which doubtless will again be borrowed there because of the discount on Canadian funds. A conversion loan is also anticipated, but no details are known.