£2,960,000 SHORT.

Auckland Star, Volume LXVII, Issue 271, 14 November 1936, Page 22

£2,960,000 SHORT.

CONVERSION LOAN.

FINAL FIGURES TO COME. DIFFERENCE TO BE MADE UP. (By Telegraph.—Press Association.) W RLLTXG TON, Friday. Preliminary figures in connection with the issue of the Government's conversion loan of £13.930,000 were supplied to-day l>v the acting-Minister of Finance, Mr, Savasje. The total so far is about £2,900,000 short of the amount for which applications were called.

The oiler was made to holders of Government 1937-40 4 per cent stock debentures to convert into 31 per cent stock with a currency of 20 years, or 3 per cent stock with a currency of 4J years. The amount of Government securities for conversion was £12.400.000. An additional amount of £1,530,000 is required for the redemption of Southland Electric-power Board 5 per cent and 0 per cent guaranteed debentures, 1930-1954.

Mr. Savage said the final figures were not yet available as numerous applications received were incomplete or irregular and are subject to correspondence with the persons concerned. However, lie was able to supply preliminary figures as follows: — £ Applications for conversion .. 5,25:i.750 Cash applications 2,714,7'>0 Total applications £1.0,908,530 As the total amount of the issue was £13.930.000 there is a difference ot £2.961,470, but this will be found from other sources and arrangements have been made for all who desire redemption to receive their money on January 15 next.