EFFORT TO REDUCE
BRITAIN'S FLOATING DEBT
;NEW CONVERSION LOAN
IBritish Official Wireless.)
KUGBY, March 25.
Tenders were opened toda3 r at tho Bank of England for the new 2J per cent, conversion . loan 1944-49, announced last week. The object of the operation is to reduce the floating debt, and tenders are to be invited weekly. in accordance with the terms of tKc announcement tho maximum amount of the conversion loan and Treasury bills allotted today was £45,000,000, the amount of the conversion lban sold being restricted to £5,000,000.' Tho result of the tenders was that £77,480,000 was applied for. Applicants for tho conversion loan, who tendered at £94 received-about 67 per cent, of their requirements. Tenders above £94 received their requirements in full. l
Tenders will be invited next Friday for bills and loan amounting to £45,000,000, of which the 2} per cent. aSKSooo. issue wiU *ofc exceed
The stock markets generally are quiet. British Government stocks fluctuated following tho result of Jtho new conversion loan. "War loan 3* tier cent, closed at £101.
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Bibliographic details
Evening Post, Volume CXV, Issue 72, 27 March 1933, Page 7
Word Count
174EFFORT TO REDUCE Evening Post, Volume CXV, Issue 72, 27 March 1933, Page 7
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