ANNOUNCEMENT BY THE PREMIER.

Wanganui Chronicle, Volume XLVIII, Issue 12366, 5 December 1904, Page 5

ANNOUNCEMENT BY THE PREMIER.

WELLINGTON, December 4

The Premier makes the following announcement regarding the loan—Th© Government has received information from the Agent-Genieral announcing that the loan of £:1,000,0p0 has been publicly issued,' application^ to close on the Bth instant. He is of opinion that there is a ■fair prospect ofi a successful flotation of the loan, 'which represents the £750,000 authorised for public works during the racent session and other authorising Acts make up an extra quarter of a million. The loan is being issued in Eeven_ years' 4 per cent, debentures jat par, with options to convert, inito;.3^:peiv cent, inscribed stock dui:in>: the firstftwo years ■at 103, during :tlie next yejirs at 101, and during the'last three years at par. Inscribed stock would, of .course, carry long currency. The Goyernmient" is of opinion that the price'and conditions are most advantageous to the colony. Indeed they look 'upon the flotation as one of the most successful emissions made for a great number of lyears. When the depressed condition of the money market and the enormously advantageous terms given by the Japanese Government to investors in thoir recent war loan are considered, the country must be congratulated upon the terms of the present loan issue.