AUSTRALIAN LOANS.

Auckland Star, Volume LXXII, Issue 70, 24 March 1941, Page 4

AUSTRALIAN LOANS.

£75,000,000 FALLING DUE

WG CONVERSIONS EXPECTED. Before llie end of tho year the Commonwealth "will be faeod with the necessity for making arrangements for loauei maturing in Australia, in London and in New York. .\ 4 per eent loan, of which £75,540,460 u oiilHtnmlinit on .lime HO last, falls duo inr ri'pavnient in Australia on November l.'i. Of the nrincipiil sum. £28,021.380 is in ire-peri, of delitti incurred as a result of I he last war. In London two issues aggregating £13.469.081 will fall due on October 1 and in New York a Queensland 7 per cent loan or about 8.000.000 dollars will fall due on the same date. Commonwealth authorities have been considering for some time problems associated with the redemption of the 4 per cent 1941 issue. This issue will fall due at a lime when demands are being made on the market for defence purposes. A large proportion of the Issue will undoubtedly he converted by present holders, many of whom are institutions. But there will always be some holders who for a variety of reasons want their money and failing anything in the nature of a lorced conveisloo they will have to be naid out. But with the economic system "closed'' as it is at present by reason of the official controls established since the outbreak of war, any substantial failure of present holders of the maturing loan to convert would not embarrass the authorities to the extent that it might in time of peace