HC Deb 12 March 1947 vol 434 cc1323-4
41. Squadron-Leader Donner

asked the Secretary of State for the Colonies where the recent loan in Fiji was placed; for what amount and on what terms; and whether it was fully subscribed.

Mr. Creech Jones

The loan was placed in Fiji, and was for 530,000 Fiji, i.e. £477,000 sterling (£F1 = 18s.), in the form of debentures bearing interest at 3¼ per cent., repayable on the expiration of 25 years from the date of issue. About 40 per cent. of the loan was subscribed, the remainder being taken up by underwriters.

Squadron-Leader Donner

Can the right hon. Gentleman say why it was not successful?

Mr. Creech Jones

The loan was raised in order to redeem a 5 per cent, specific loan, but I have no information as to why it was not more successful than we hoped it would be