MATURING LOAN

Hokitika Guardian, 17 January 1933, Page 6

MATURING LOAN

RESPONSE TO CONVERSION

DISCHARGED SOLDIERS’ ISSUr

WELLINGTON, January 16,

Present point to a tory response from holders of 5.J- per cent. Discharged 'Soldiers’ Setticnuu. loan, which matures on Sunday, to the Government’s offer to renew holding; in either stock or bearer drb c ntunn bearing interest at the lower rate of j per ice.it and maturing on June 15, 1940, The amount of the loan om standing at March 31, 1932, was £4,114,630.

Applications for conversion are being received at the Bank of New Zealand, the Post Office and the offices of th; Treasury in the four centres. In addi. tion, all holders of stock have been advised by the Treasury, Wellington, that applications for reinvestment, with continuity of interest at 5 per cent pei annum, from the date of maturity, wd. be .accepted up to .March 15. The experience at the Auckland office of the Treasury is that a majority ot the applications received are for conversion. At the same time the loan h widely held and applications are being returned through so many sou re?'.} that it is considered difficult to gaug e the reception accurately until the complete (figures are available.

A fair amount of the business is passing. through the hands* of city sharebrokers. One leading broker stated yesterday that the .reception wa* s on about a At*., basis. Another broker said the majority of h>, clients favoured conversion.