SYDNEY LOANS.

Timaru Herald, Volume CXXV, Issue 18539, 9 April 1930, Page 9

SYDNEY LOANS.

FLOTATION IN UNITED STATES.

(United Press Association By Electric Telegraph—Copyright.) (Received, April 8. 7.20 p.m.) NEW YORK, April 7. The Sydney Metropolitan Waterworks bonds will be placed on the market to-morrow, in un issue ol 7,500,000 dollars at 924 yielding 6.15 per cent., repayable ul any interest date beginning on May 1. 1940. at par. It is understood that the cumulative sinking fund ol’ 14 per cent annually will be used to purchase time and labour-saving machinery, or bonds in the market at or below par.

[A syndicate comprised of the Bank of America, the Blair Halsey and Stuart Co., and E. H. Rollins and Sons is offering 5A per cent bonds (with a currency of 20 years) for an amount or between five and eight million dollars, for the Sydney Metropolitan Water Sewerage and Drainage Board. The issue is guaranteed as to principal and interest by the New South Wales Government. The proceeds of the financing it is understood, will be used for the construction of additional water, sewerage, and drainage works, or to refund the floating indebtedness incurred for such, purposes.!