A New Scheme of Stock Conversion.
♦ . ) ■ (Per Press Association). , London. September/ 4, A new scheme of a Stock Conversion Trust, proposed to deal with deposit receipts to the yalne of two nvllionft sterling, has been issued by the foil >wing Banks :— Australian Joint Stock Jpank, Bank of Victoria, City of Melbourne Bank, Commercial Bank of Australia, London Bank of Australia, "National Bank of Australasia, and Queensland National Bank. It is intended to convert the half -face value of the receipts into four per cent, cumulative preference, stock, aqd the rem.ajnd,e? *« vefPßtfi deferred stocks for, cash bank, 1 / thus e^abliflg depositors to realise thd half value of their deposits. Bankers have, but little sympathy with the scheme, and it is not expected many dep asitora will avail themselves of it.
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Bibliographic details
Feilding Star, Volume XVI, Issue 60, 5 September 1894, Page 2
Word Count
129A New Scheme of Stock Conversion. Feilding Star, Volume XVI, Issue 60, 5 September 1894, Page 2
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