AUCKLAND HARBOUR BOARD LOAN.
(United Press Association. —Copyright j LONDON, Jan. 27. The Auckland Harbour Board loan has been over-subscribed.
(By Telegraph.) (Special to "Chronicle*.")
AUCKLAND, January 27. > The Auckland Harbour Board, as announced by cablegram, is floating a £250,000 loan on the London market. Mr J. H. Gunson, chairman of the Board, in an interview, said the Board had for several months been considering the question of another issue of debentures. Last year a considerable sum was secured in Australia, but the Board found it impossible to do any more in that quarter and Ithemforp turned its .attention to tho London market. The last sal© of the Board'tf debenures in London was in 1908 and theriafore the proposals were very favourably received. Several offers were received during the last three months, but the Board deferred closing -with these, hoping for an improvement in the market. .Subsequent events had satisfied it that there was no prospect of lower rates for some time to come, so in view of .the urgency of the Board's work it wag decided to float £250,000 worth of debentures at five par cent., which are now being offered at par. The Board was in a position either of placing this issue or ■eke of suspending th,> most important of its works.
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Bibliographic details
Wanganui Chronicle, Issue 12857, 28 January 1913, Page 5
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215AUCKLAND HARBOUR BOARD LOAN. Wanganui Chronicle, Issue 12857, 28 January 1913, Page 5
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