AMERICAN MONEY.
FOR NEW SOUTH WALES. SYDNEY, Wednesday. Mr J. T. Lang, Premier of NewSouth. Wales, announced that the State Government had sold the issue of £5,000,000 State bonds in New York, the mone3 r to be utilised to meet commitments in London. Mr Lang says that the funds were raised at a considerably better price than could be obtained in London. MORE LOANS EXPECTED. NEW IrORK,l r ORK, Tuesday.Mr Lang’s announcement of the flotation of a £3,000,000 loan here was received with considerable interest in financial circles, where it was earlier stated that negotiations ended in favour of London. It reflects- the low rates and broad investment demand in the American money markets, where newbond offerings have been consistently over-subscribed. Further Australian loans are expected, and with keen competition among bankers with abundant capital, a reduction in both the interest rate and underwriting costs to minima is expee-t----de.
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Wairarapa Daily Times, 27 January 1927, Page 5
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149AMERICAN MONEY. Wairarapa Daily Times, 27 January 1927, Page 5
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