SELLING AT PREMIUM
NEW AUSTRALIAN LOAN BIG DEMAND FOR SHARES SPECULATION CHECKED INVESTORS CONSIDERED By Telegraph—Press Assn.—Copyright Rec. 11.46 p.m. London, Aug. 2. Cash subscribers to the Commonwealth loan, which was heavily oversubscribed, received two per cent of their application. Dealings opened on the stock exchange at one and a half per cent, premium. . Loan applicants for amounts below £5OOO received nothing. It is understood that the decision is due to a desire to outwit “stags” as the loan is essentially suitable for large investors and hardship is not entailed to small applicants. Much activity on the Stock Exchange in New South Wales three per cent, stock before the conversion was due to the anticipation of a heavy subscription, recent buyers desiring to ensure conversion rights. The Commonwealth redemption and conversion loan was over-subscribed when it was offered for public subscription on July 24. The cash lists were open for only five minutes. The terms of the loan comprise a currency of six years and an interest rate of 3 per cent. It is expected that £36,577 wJU be saved by Australia annually in interest and exchange.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TDN19350803.2.67
Bibliographic details
Taranaki Daily News, 3 August 1935, Page 7
Word Count
187SELLING AT PREMIUM Taranaki Daily News, 3 August 1935, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Taranaki Daily News. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in