A GREAT FINANCIAL OPERATION.
CONVERSION OF CONSOLS.
[Per Prbss association.!
London, March 10.
Mr Goschen's conversion scheme merges the different stocks into one. Holders ot the new thiee per cents are offered 3 per cent for the current year, and 2^/1 per cent for the next fourteen years, at the end of which period the interest will be reduced to 2^ percent. The latter rate will prevail till the expiration of the twentieth year, Holders wishing to be p.tid off m cash at the end of a year's time must signify their wish by M-uch 29 h. Holders of consols and reduced three per cents are offered similar terms, with the addition of a 5< cash bonus and is 6J for brokers. The conversion proposals will affect worth of stock. Mr Gladstone applauded the scheme and expressed the opinion that much public benefit would result from it. All the newspapers speak m favjrable terms of it.
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Ashburton Guardian, Volume VII, Issue 1788, 13 March 1888, Page 2
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156A GREAT FINANCIAL OPERATION. Ashburton Guardian, Volume VII, Issue 1788, 13 March 1888, Page 2
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