INTEREST SAVINGS

Dominion, Volume 28, Issue 96, 17 January 1935, Page 9

INTEREST SAVINGS

Australian Conversion Loan (Received January 16, 11.50 p.m.) Canberra, January 16. It is estimated that the saving of interest and exchange by the loan conversion (details of which are given on page 12) amounts to £490,000, All the State Governments except New South Wales will share with the Commonwealth Government in the conversion. SOUND POLICY “Financial Times” Comment (Received January 16, 11.50 p.m.) London, January 16. The “Financial Times” says that Australia, very properly, is intent on pushing homo the advantage given by its sound financial policy in the last few years. The latest conversion operation represents both the biggest and most favourable to the borrower of the -series. The record is one of which Mr. Lyons and his Government may well be proud. Further big conversions must be anticipated late in the year should Australia’s economic position continue to improve, as is confidently expected, and monetary conditions remain favourable. ' The “Daily Express” says that the British Treasury could have given notice to-day of I lie intention to repay £150.000,000 of short-dated bonds. Instead the’Chancellor of the Exchequer agreed to the Commonwealth issue.