IMMEDIATE RESPONSE
Rec. Nov. 3, 5.5 p.m. London, November 2. The Stock Exchange was immediately respensive to the conversion announcement, and British funds appreciated sharply. Sterling similarly rallied. Continental "bears" disappeared and instead Paris and Amsterdam were keenly buying forward sterling. Political cireles expect the immediate success of the Conversion, which will round off an unparallelled operation, removing the pvershadowing influence of large blocks of high-priced Government securities and helping industry to ahsorb the accumulated banking deposits, perhaps at cheaper rates.
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 371, 4 November 1932, Page 5
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81IMMEDIATE RESPONSE Rotorua Morning Post, Volume 2, Issue 371, 4 November 1932, Page 5
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