THE TRANSPORT LOAN.
CAUSE OF CONFUSION. LONDON PAPER’S COMMENT. United Press Assn.—Elec. Tel. Copyright. (Deceived July 4, 1-20 p.m.) LONDON. July 3. The Daily Telegraph’s financial writer says there appears to be some confusion here and in New Zealand regarding the Auckland trainway debenture. The loan was originally issued in New Zealand but part was offered for sale here in 1922 by the Bank of New Zealand on behalf of the Auckland Tram Company. This offer specifically provided for the payment of interest in London or Auckland at the holders’ option. Consequently London holders' position is not exactly comparable with that of the holders of issues made in New Zealand or the holders of the Australian issue of Broken Hill debentures. On the latter, according to the Appeal Court decision, interest is payable in Australian currency. London Times’ Advice. The Times says: It would seem highly desirable in the interests of New Zealand’s credit, which has always stood high, that the question be settled by stating a case for hearing io the Courts.
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Bibliographic details
Waikato Times, Volume 114, Issue 18988, 4 July 1933, Page 6
Word Count
173THE TRANSPORT LOAN. Waikato Times, Volume 114, Issue 18988, 4 July 1933, Page 6
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