UNPLEASANT HINT GIVEN
RESPONSE SURPRISINGLY POOR.
OVERSEAS LOANS UNPOPULAR.
By Telegraph—Press Assn. —Copyright. Rec. 7.30 p.m. London, June 10. The Financial News in an editorial sttys the failure of the 'New Zealand issue has given an unpleasant hint that the quarters which usually take up large blocks of such issues are at present somewhat overloaded. The response is surprisingly poor. .This is not so much due to dissatisfaction with the yield as to the general disinclination to shoulder new commitments overseas. The Daily Telegraph’s financial editor savs that since the underwriters had been left with 68 per cent, of the New Zealand loan, the dealings in scrip were inevitably unsatisfactory, and opened at 1 per cent, discount. As this w.“' no encouragement for the market to take the stock, it went to 2 per cent., closing at 7-8 per cent, discount. Although New Zealand always has a high reputation in the financial world, its close proximity to Australia does not help the Dominion when borrowing.
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Bibliographic details
Taranaki Daily News, 11 June 1931, Page 7
Word Count
165UNPLEASANT HINT GIVEN Taranaki Daily News, 11 June 1931, Page 7
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