LOAN CONVERSION
EFFECTED IN LONDON. RECEPTION REGARDED AS SATISFACTORY. (By Telegraph—Press Association.) WELLINGTON, This Day. A statement on the New Zealand Government 3J per cent loan of £17,172190 Its 4d, which matured in London on January 1, was made yesterday by the Minister of Finance, Mr Nash. Arrangements for converting this large amount of stock were made by the Minister during his last visit to London and in July last holders of securities in this loan were invited to convert their holdings into 31 per cent conversion stock 1939-45. At the same time investors were invited to subscribe to a cash loan on similar terms, the amount of the combined cash and conversion loan being £16,000,000. • Advice was subsequently received that the loan had been fully subscribed and, considering the unsettled international situation existing at the time, the reception given the issue must be regarded as satisfactory, said Mr Nash. The difference between the loan of £17,172,190 Ils 4d, and the new loan of £16,000,000 had been provided in New Zealand and the holdings of London subscribers who did not wish to convert were redeemed on due date.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/WAITA19400109.2.26
Bibliographic details
Ngā taipitopito pukapuka
Wairarapa Times-Age, 9 January 1940, Page 4
Word count
Tapeke kupu
188LOAN CONVERSION Wairarapa Times-Age, 9 January 1940, Page 4
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Wairarapa Times-Age. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in