CONVERSION LOANS
Australian Operations BIG INTEREST SAVINGS (British Official Wireless., Rugby, January 16. In I lie further Australian conversion loan which has been announced a total amouut of £22,284,000 of Commonwealth 5 per cent. Loan, 1935-45, first issued 13 years ago. is to be converted into an equal amount of 3} per cent, stock redeemable in 1956-61. This operation will yield a total annual saving in interest of £510.000 in Australian cur rency and of £407.000 in English. This is the ninth conversion operation to be carried out by the Commonwealth Government in a little more than two years, and brings the total saving in interest charges on the debt up to £2,457,000 (English currency) and £3,080,000 (Australian). The new loan is being underwritten to-day. The remarkable improvement in the Australian, financial and economic position in recent years has enabled the Commonwealth to take full advantage of the exceptionally low money rates.
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Dominion, Volume 28, Issue 97, 18 January 1935, Page 9
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152CONVERSION LOANS Dominion, Volume 28, Issue 97, 18 January 1935, Page 9
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