CONVERSION OF WAR LOAN.

Press, Volume LXVIII, Issue 20612, 30 July 1932, Page 15

CONVERSION OF WAR LOAN.

LARGE STAFF EMPLOYEIvj POSITION OP OVERSEA BONDHOLDERS. TC (Received July 29th, 7 p.m.) LONDON, July ae. Four thousand fire hundred clerta are exclusively empjoyed en the Ww Loan conversion operations. (If tW® 2400 are on the Bank of England The operations are extensively mechanised and megaphones are used on every floor to convey general insforuetions to tho staff. The magnitude of the task is shown by the iast that in index room alone are 3,SQQ>QQQ cards, with 13,000,000 entries regwdjsg W® stocks beld by the bank®, f est Office is also proud of its of dealing with £,000,000 fjttar» jfltfof in a month, though the (foyefximgnt only promised the payment* «'w» fßf bonus within a fortnight. The ffft Office succeeded in tN rants within two days. Mr Montagu N°Tm»n (©erowj* the Bank of England) 6t&tj» tWt special airangemejips «re being ¥tu\de ■, to meet overseas applicants, The bftSMS ' for them will depwd m the dste pf mailing. If conversions were received , in December from the Solomon Islands - the bonus would be paid. MANY APPLICATIONS. THE . POSITION SUMMARISED. (vgros officwct jmsuu*} BTIQBY, Ju3y A further 74,000 applications far tw version of Wax Loan Stock w«c received at the Bank of England yestfr- - day, and only 800 application* far xts demption. The total applications to date are a* follows*— Bank of England, 1,0»6,0Q0. Po3t Ofßee Savings Bank, 6*56,000. t Savings Bank, 86,000. ' ' . Bank of - Ireland, §I,OOO. , ' Grand total, 1,869,000, pf wkwfc 1.755.Q00 are for conversion. The total holdings are about 2,600,000. The Swiss Bank Corporation y«wr- . flay deposited for conversion fagdjup 0f£1,600,000, and father, * tions are finnoweed tr&n. and South Africa. /