CONVERSION LOAN
AN AUSTRALIAN OPERATION. VICTORIA .SAVES INTEREST. (United Press Association—Copyright) LONDON, July 21. It is officially announced that the Chancellor of the Exchequer has agreed to the immediate issue of Commonwealth stock, part of which will be an optional, conversion. The loan, which will !>e underwritten on Monday, consists of two amounts: £13,469,981 3 per cent, to be issued at par, dated! 1939-41, 'with the object of redeeming the New South Wales inscribed 3 per cent, stock due for repayment on October 1; and £1,049,568, Victorian 5 per cents., 1935-45, holders of which, can convert. It is pointed out that the New South Wales threes were issued 1 at a discount, heneo the new issue will mean real interest-saving, amounting to £36,000 per annum. The lists of cash applications will be opened and closed on Wednesday.
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Bibliographic details
Ashburton Guardian, Volume 55, Issue 239, 23 July 1935, Page 5
Word Count
137CONVERSION LOAN Ashburton Guardian, Volume 55, Issue 239, 23 July 1935, Page 5
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