N.Z. CONVERSION LOAN.
ATTRACTIVE TERMS LIKELY £9,000,000 PROPOSITION. DOMINION’S HEALTHY OUTLOOK. United Press Assn.—Elec. Tel. Copyright. LONDON, Oct. 2. The City editor of the Daily Telegraph says that with the Treasury’s immediate plans fulfilled New Zealand has a chance of securing attractive terms for her £9,000,000 “callable” loans. The firmness of wool prices has attracted much attention in London and there has been an equally striking recovery in butter. “ In one respect New Zealand's outlook is more healthy than Australia’s, says the writer, “for none of the important New Zealand primary products has accumulated surplus stocks. South Africa also is a borrower in the queue competing against New Zealand for an early place."
The £9,000,000 referred to are the two New Zealand loans which have reached their optional maturity dates. One of £5,000,000 is at 5 per cent, a short-dated loan raised In 1931. It can be redeemed at any time after July, 1932, and it matures in July, 1934. The other loan is £4,000,000 at 4 per cent raised in 1923 with optional maturity 1933 and maturity 1943. This offers no great possibility of benefit to New Zealand on conversion, but a substantial saving should be effected on the £5,000,000 at 5 per cent.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WT19331003.2.40
Bibliographic details
Waikato Times, Volume 114, Issue 19066, 3 October 1933, Page 5
Word Count
205N.Z. CONVERSION LOAN. Waikato Times, Volume 114, Issue 19066, 3 October 1933, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Waikato Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.