THE Yanmourn LOAN.
In view of the firmness of high-class investment securities, it is not surprising that a fresh capital issue of the gilt-edged character should have made its appearance during the past week, the issue in question being 5% stock for the Corporation of Great Yarmouth to the amount of £450,000. The Loan is dated 1945-55, with -the price of issue 101. Of the proceeds, £100,000 goes to repay existing mortgages, and the greater ,part of the balance is to be used for remunerative works. The greater interest attaches to the operation by reason of the fact that hitherto loans to the Corporation of Great Yarmouth have been of a semi-private character, and consequently there are no Great Yarmouth securities officially quoted. The present issue is a full Trustee Security. It would not be surprising if the Yarmouth issue were to be followed by some other capital .flotations, though it is scarcely likely that we shall see very much activity in that direction until the end of the month or the beginning of October. Rumours, however, are already current of some further Colonial Loans before the autumn is
far advanced. • * * *