NEW CAPITAL

Evening Post, Volume CXV, Issue 11, 14 January 1933, Page 11

NEW CAPITAL

ISSUES AT HOME

VETO WITHDRAW

EXCEPT IN CERTAIN CASES

WAR LOAN CONVERSION

(British Official Wireless.) (Received 14th January, 11.30 ajn.)] ! , RUGBY, 13th January. The Treasury has issued the following announcement:— _ "Now that the series of operations directly associated with the conversion of the 5 per cent. War Loan are about to be completed by the repayment on Ist February of the 5 per; cent Treasury Bonds, 1933-35, the Chancellor of the Exchequer ihinks that the time has come when lie may safely withdraw his previous request regarding new issues of capital, except in the following cases:—(l)l Foreign issues, namely issues on behalf of borrowers domiciled outside1 the Empire or issues the proceeds o$ which would be remitted directly oi; indirectly to countries outside the! Empire;, and (2) optional replacements of existing issues by new issues if those new issues rank as trustee securities and involve either underwriting or an invitation to the puKi lie to subscribe new cash." The Chancellor .still asks, however, that with a riew to co-ordinat-ing the requirements of intending borrowers, and so preventing possible congestion of the market, no issue ranking as trustee security mayi be made without prior .agreements with the Bank of England regarding; the amount and date of issue.