BANKERS PROPOSALS
556 (MILLION LOAN
(Australian Press Association,)
(Received this day at 10.15 a.m.) MELBOURNE, May 29. A clause imposing twenty-five per cent, extra tax on interest on securities not converted into the proposed new four per cent. 556 million wounds conversion loan, i s included in the tentative scheme adopted at the Pieinieis Conference. The new loan is to have a currency of forty years with the option of redemption after ten years. A number of proposals referred to the Conference last night with bankers and stock exchange representatives. It is stressed that the final adoption of the loan proposals are contingent, on the adoption by the Conference of the full plan which includes a. twenty per cent* reduction in governmental expenditure,
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Hokitika Guardian, 29 May 1931, Page 4
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123BANKERS PROPOSALS Hokitika Guardian, 29 May 1931, Page 4
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