CONVERSION OF MATURING LOANS

Auckland Star, Volume LXXV, Issue 58, 9 March 1944, Page 4

CONVERSION OF MATURING LOANS

•THE success of the conversion of the London portion of our maturing loans is an example to local holders. Over eighty per cent of the total held in Britain has already been renewed, and the Minister of Finance has no anxieties over the small balance remaining. An equal, or a better, response from our own holders will clear the decks for the inevitable demand for more money to finance our war effort. The terms of conversion are favourable, and the premiums offered both short and long-dated stock make the returns as good as from the recent loan issues. The conversion closes on Saturday, and any amounts not applied for will be paid off, so that those who wish to continue their investment must act promptly. Not only in the conversion of our stock, but in the home front's assistance to the war effort, a shining example is offered by Britain, whose war savings last year reached the record total of £1,902,909,764. Small savers alone bought over four hundred million savings certificates, bought by 17,000,000 savers, over half of Britain's adult population. Figures like these should stimulate the response to the conversion loan here, and also the immediate saving by the small investor for the National Savings Fund and for the larger effort which will be announced after the conversion negotiations have been completed.