NEW BOND MARKET.

Star (Christchurch), Volume LXVI, Issue 20476, 30 November 1934, Page 1

NEW BOND MARKET.

Selling Loans to Small Investors. RELIEF ISSUE POSSIBLE. (By rAUL MALLON.) WASHINGTON. October 29. The fiscal authorities of the New Deal will not say so openly, but they are highly enthusiastic about the results of the £10.000,000 test bond issue for home renovation. The marketing houses reported that the proportion purchased by small investors in £lO, £2O and £IOO lots indicated that there was an untapped public market for long-term Government obligations if offered in small denominations. The amount involved was not large, but it strengthened the private beliefs of Treasury powers that they may have found a new Government bond market. That may be an over-optimistic view, but they have it. Don’t be surprised if they break out some time soon with a similar issue of recovery bonds to finance at least a portion of relief expenditures. That is what they now have in the back of their minds. Alleged Milk Scandals. The milk train is running off the track again, and Congress will be asked to flag it down. So much is clear as a result of the our-month study by the Federal Trade Commission. Only £6OOO was allotted the commission for this job, and at least another £20.000 is needed. Investigators even vjiisper of some bribery of hotel chefs and apartment managers, payment of protection money, and destruction by rivals of each other’s bottles.—N.A.N.A. Copyright.