SUCCESS ASSURED
(British Oflicial "Wjreless) •.
the war loan ONLY TWO PER CENT. DECLINE TO CONVERT THEIR HOLDINGS. other nations impressed.
RUGBY, Tuesday. Over £1,000,000,000 of the 5 per cent. War Loan has already -been converted to 31 per cent. under the Government's conversion scheme. A statement to this effect was made by Major W. E. Elliotr Financial Secretary to the Treasury. He also mentioned that of 2,600,000 holders of this stoclc 1,587,000 had, up to the present, assented to the conversion. The dissenters numbered only 115,000, representing only 2 per cent. This meant that £98 of this sfock is heing converted for every £2 that is not. This is the last week for conversion, and Major Elliot said the response so far has been very satisfactory and the operation is already assured of success. In a letter to General Seely, Sir John Simon said: "There has been nothing more striking in recent weeks than the impression this bold conception has made on the minds of other countries."
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Rotorua Morning Post, Volume 2, Issue 285, 27 July 1932, Page 5
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167SUCCESS ASSURED Rotorua Morning Post, Volume 2, Issue 285, 27 July 1932, Page 5
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