CONVERSION OF STOCKS.
London, March 10,
Mr Goscben’s conversion scheme merges the different slocks into one. Holders of the new three per ern's. are offered 3 per cent, for the current year, and 2;| per cent, for the next fourteen years, at the end of which period the interest will be reduced to 2-| per cent. The latter rate will prevail till the expiration of the twentieth year, Holders wishing to be paid off in cash at the end of a year’s time must signify their wish by March 29U). Holders of consols and reduced three per cents, are offered similar terms, with the addition of a 5s cash bonus and Is 6d for brokers. The conversion proposals will affect £558,000,000 worth of stock. Mr Gladstone applauded the scheme and expressed the opinion that much public benefit would result Irom it. All the newspapers speak in favorable terms of it.
March 11
Mr Goschen states that ho has no fear that foreign complications will compromise his conversion proposal. He also believes that the scheme win ultimately effect a saving ot £2,800,000 annually.
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Temuka Leader, Issue 1711, 15 March 1888, Page 1
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182CONVERSION OF STOCKS. Temuka Leader, Issue 1711, 15 March 1888, Page 1
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