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Palestine Loan, Heavily Oversubscribed, is Withdrawn from London Market

Lists Closed Before Date Set; Press Comments Favorably (Jewish Telegraphic Agency)

The lists for subscription in the Palestine £4,475,000 loan were closed at 11:30 Wednesday morning, the loan being heavily oversubscribed. The lists were due to be closed on Friday but the oversubscription of the loan caused it to be withdrawn before the date set.

Almost all trading on the London market yesterday was concentrated on the Palestine stock. In press comments the stock was pointed to as an exceptionally favorable and attractive investment. Having the British government guarantee, it is virtually a British government loan, giving a yield even slightly in excess of that obtainable from the British war loan.

Wall Street bankers were interested to learn of the new loan to Palestine, which has been guaranteed by the Bank of England, the “New York Times” writes in its financial section. The loan carries an its financial section. The loan carries an interest rate of 5 per cent, and is priced at 105, which places the credit ra-