LOAN CONVERSION
MANY CLERKS EMPLOYED. v United Press Association—By-Electric Telegraph—Copyright.) LONDON, July 28. There are four thousand five hundred defies exclusively employed on the ioian conversion operations, of whom 2,400 arb on the Bank of England Staff. The operations are mechanised to iv degree. Megaphones used on every floor to convey general instructions to the staff. The magnitude of the task is shown by the fact that in the index room alone there are three and a-half million cards with thirteen million entries, regarding the 'stocks held by the banks.
The Post Office is also proud of its achievement of dealing with five million extra letters in a month.
Though the Government only promised the payment of the 20s bonus within a- fortnight, the Poet Office s-iuc-ceeded in despatching the warrants within two days.
Mr Montague Norman (Chairman of the Bank of England) states that special arrangements are being made to m'eet the overseas applicants. Their bonus will depend on the date of their mailbag. If conversions are received by December from the 'Solomon Islands the bonus will be paid there.
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Hokitika Guardian, 30 July 1932, Page 5
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181LOAN CONVERSION Hokitika Guardian, 30 July 1932, Page 5
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