NEW ZEALAND CREDIT
PROSPECTS OF THE LONDON CONVERSION. APPLICATIONS FAIRLY HEAVY. BANKERS STRIKE OPTIMISTIC NOTE. | LONDON, July 17. The list of cash applications for the New Zealand £3,900,000 conversion loan has- closed. It is understood they are fairly heavy. At the National Bank of New Zea* land meeting Sir Austin Harris, presiding, said that he did not doubt that as a result of the new loan New Zealand's credit would be established on a 3i per cent, basis. New Zealand, he said, had striven manfully to meet its difficulties, but could not expect any return to complete normality until some of the world problems of price levels and trade restrictions were solved. The bankers were going through a lean time, *but he was confident that New Zealand conditions would quickly respond to any favourable turn in world! affairs and its large liquid resources would enable the bank to take full advantage when the time came. Sir James Grose said that, taking the Dominion as a whole, some confidence was beginning to appear. Though the lean times had not yet passed, a gradual, if slow, improvement was to be expected.
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Bibliographic details
Wairarapa Age, 19 July 1934, Page 5
Word Count
189NEW ZEALAND CREDIT Wairarapa Age, 19 July 1934, Page 5
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