OFFERS TO CONVERT
POSITION OF DISSENTIENTS Wellington, Wednesday. By to-night offers to convert had reached a total of £19,999,000. Although the Government antieipates an overwhelming response to its internal debt proposal, it is also con- I sidering the position of those who are likely to dissent from the scheme and it is likely that this section of bondholders will have to face charges in addition to the 'present stamp duty of 10 per cent. The conversion scheme amounts to the reduction of 20 per cent. in the rate of interest but penalties for non-convertions may amount to 33 1-3 per cent. of the present rate of interest they are enjoying.
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 470, 2 March 1933, Page 5
Word Count
110OFFERS TO CONVERT Rotorua Morning Post, Volume 2, Issue 470, 2 March 1933, Page 5
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