THE MONEY MARKET.
BRITISH LOAN REDEMPTION. RUGBY, October 4. An annual saving of at least £300,000 will, it is estimated, be effected •'by-the Government's decision to i'e de em the 4 per cent war loan of nearly. £80;,000,000 with money raised by the issue of 4 per . cent Treasury bonds, to be offered to tender with » minimum price ot £100 isif per cent. The Government will therefore pay interest jat a maximum rate of £3 19/7 per cent,':-instead' of 4 per cent, and that interest - will bV subject to income tax deducted'at the source. As the present war " loan could halve remained in existence ; until 1942, the total saving of interest, over-vthe • whole period will be more than £3,500,000. .. v
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Auckland Star, Volume LXI, Issue 236, 6 October 1930, Page 4
Word Count
120THE MONEY MARKET. Auckland Star, Volume LXI, Issue 236, 6 October 1930, Page 4
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