HC Deb 21 February 1927 vol 202 cc1389-90
15. Mr. ROY WILSON

asked the Secretary of State for the Colonies what was the amount of the recently issued Nigerian loan; and the total amount applied for by the public?

Mr. AMERY

The amount of the loan was £4,250,000 at par bearing five per cent. interest. The subscription lists were opened on the 24th January and closed at 10.5 a.m. on the same day, by which hour the public applications amounted to £17,375,900.

Mr. WILSON

Does the right hon. Gentleman not think that the result of that loan is a signal tribute to the financial stability of the colony?

Mr. AMERY

Yes, Sir.

Mr. T. WILLIAMS

Can the right hon. Gentleman explain the success of this and other loans, and the failure of all the Australian loans? [HON. MEMBERS: "Yes!" and "Socialism!"]