CONVERSION OF CITY LOANS
♦ APPLICATIONS NEARING TOTAL
Very good progress continues to be made with the big task of converting the Christchurch City Council's loans. The applications from debenture-holders desiring to convert to a lower rate of interest now represent a total sum of £869,695, which is only £ 140,000 short of the total value of the convertible debentures—£ 1,010,115. The time has now expired during which the council could receive notices of dissent from conversion. No such notices have been received by the City Treasurer's Department, which is handling the conversion. The date of expiry was March 1 and any debenture-holder who has not given notice of dissent has now lost the right to do so.
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Press, Volume LXXI, Issue 21416, 7 March 1935, Page 12
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116CONVERSION OF CITY LOANS Press, Volume LXXI, Issue 21416, 7 March 1935, Page 12
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