NEW ZEALAND CONVERSION LOAN.
♦— fllY TELEGIIAI'H.—PBESK ASSOCIATION]. Wellington, Friday. I.v reference to the loan conversion scheme alluded to in last night's cable news the Post states that is is simply a maturing of the arrangement which have been in preparation for some time past. Two tive per cent loans, amounting together to about £1,(500,000, are just about falling due and it has been arranged that they shall be converted into a3i per cent issue. The Bank of England has undertaken to float the new loan at 97, but a private letter received by Dr Newman from a member of the LeeislatKi'e, who is now in London, states that it is believed it will go off at more than par, judging from the present feeling about the colony's stock. The conversion will result in a clear saving to the colony of about £24,000 a year, and other loans will mature in the cause of the next two or three years which can be similarly operated upon.
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Waikato Times, Volume XXXIII, Issue 2683, 21 September 1889, Page 2
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165NEW ZEALAND CONVERSION LOAN. Waikato Times, Volume XXXIII, Issue 2683, 21 September 1889, Page 2
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