The Failure of the Queensland Loan.

Thames Star, Volume XXIII, Issue 6894, 29 May 1891, Page 2

The Failure of the Queensland Loan.

(PfiKsa Association.) £oi^GN, May %%. The present depression in .New fouth Wales stocks causes city men to regard the prospects of conversion as gloomy. Tho rssult of the Queensland loan sur prised eyen the pessijaijitß. Amosg the reasons 'alleged in "the pity fpr tije astounding failure are the distrust of Queensland's Republican tendencies, the refusal of the polony to ppntrib^te to, tho naval defence scheme, &ad her disposition to follow an isolated policy on other questions. The Stock Exchange manifests delight at the failure, and predicts that the stock will be secured at as low a price as $0. It suggests the temporary repeal of the Big pc? ije^ts wbiyh W8 "matted, and urge's the withdrawal of the £30(j|;000 that was offered, on the ground that it is too small a lino. Dealers think it is a Rjistake £o keep the loan open, 88 further gubseriuti/ouy a«'a unlikely? fl f ' ' v May 2s. The Queensland loan is quoted at 1 per cent, discount. The Times says the loan ought to be confined to the redemption of debentures, The time was badly chosen

for launching it, the syndicates who usually tender being too deeply involved to operate and the rate of interest too low. The brokers conjplnin that mo* tenders were opened in prtvato. : The Daily News thinlt3 it was rash to offer the loan without previously securing tenders from the BaDks or ascertaining whether the syndicates would take it up. Bbisbanb, This day. ASSISTANCE FEOM BANK OF ENGLAND. In connection with the failure of the Queensland loan, it is stated that the Bank of England, being fully possessed cf the facts, has expressed its willingness to assist the colony to promptly meet its engagements, and therefore no difficulty will be experienced in meeting the payments due on July Ist.