NEW ZEALAND LOAN.
OVER-SUBSCRIBED RUSH OF APPLICANTS. LIST OPEN ONLY TWO HOURS. LONDON, May 31. The New Zealand loan of £0,000,000 lias been over-subscribed. The list has now been closed. The prospectus was published this morning. The loan will hear interest at the rate of !> per cent. It was issued at 98J and is repayable at par in IDiO. (Received 11.25 a.m.) LONDON, May 31. Although the success of the New Zealand loan was generally expected, the early closing of the list surprised even the most optimistic. The popularity of the loan was evidenced by the long queue awaiting the opening of the Bank of England at 0 a.m. to obtain application forms. This was reminiscent of the pre-war boom in mining issues. Applications poured in so fast that the subscription of £0,000,000 was largely exceeded by 11 o-clook when the list closed though applications from the country will be received to-morrow. One of the principal causes of the success is the subscription of very large amounts by Arms who had already underwritten the loan.
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Bibliographic details
Waikato Times, Volume 100, Issue 16811, 1 June 1926, Page 5
Word Count
175NEW ZEALAND LOAN. Waikato Times, Volume 100, Issue 16811, 1 June 1926, Page 5
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