LOAN CONVERSION
OF TYVO .HUNDRED MILLIONS. o'.vk-FiF$H HELD BACK. " . ■ ( orated Press Association—By Electric I Telegraph—Copyrigiit.) LONDON, August 3. The number of applications tor loan conversion suggests that some- fourfifths of a total of 286 millions of five per cent, 'war loan has been oonv. rtd; Th e scheme, therefore, has fulfilled .' the highest expectations. A great national saving will ultimately accrue. The holders of unconverted stock have now the choice of converting into the new 3.) per cent, loan or selling at! the current price and' buying new “assented" stock. The Treasury has made amp’.e provision for meeting the bonuses and demands for redemption. It is expected ready money will he •found, either by means o,f normal 1 Treasury Bills, or a special short tortti loan. Much of the success of the conversion is attributed to the newspapers and poster advertising. Further applications are expected from . holders abroad, also recent purchasers of the loan for conversion. The “Daily Express” says it is be-' ]ieved the amount 'payable in cash redemption will not exceed two hundred and fifty millions.
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Hokitika Guardian, 4 August 1932, Page 6
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178LOAN CONVERSION Hokitika Guardian, 4 August 1932, Page 6
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