CONVERSION SCHEME
SUCCESS IN BRITAIN VERY FEW DISSENTERS British Wireless RUGBY, July 25 More than £1,000,000,000 of the 5 per cent war loan is already converted to 3j per cent under the Government's conversion scheme. A statement to this effect was made by Major W. E. Elliot, Financial Secretary to the Treasury, who also mentioned that of 2,600,000 holders of this stock 1,587,000 had assented to conversion so far. * The dissenters numbered only 115,000 representing 2 per cent. This meant that £9B of this stock .was be : ng converted for every £2 that was not. This was the last week for conversion. Major Elliot, said the response to date | was very satisfactory, and the operation \ was already assured of success. In a letter to General J. E- Seely, who is in charge of the conversion, Sir John Simon, Foreign Secretary, said: "Nothing has been more striking in recent weeks than the impression this bold j conception lias made on the minds of I other countries." 1 —rr
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21245, 27 July 1932, Page 11
Word Count
167CONVERSION SCHEME New Zealand Herald, Volume LXIX, Issue 21245, 27 July 1932, Page 11
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