NATIONAL SAVING
British Loan Conversion SUCCESS OF SCHEME Expectations Fulfilled BONUSES & REDEMPTION (By Telegraph.—Press' Apish.—Copyright.) (Rec. August 3, 8.40 p.m.) London, August 3. The number of applications for loan conversion suggests that some four-fifths of the total £2,085,000,000 5 per cent. War Loan has been converted. The scheme, therefore, has fulfilled the highest expectations, and a great national saving will ultimately accrue. Holders of unconverted stock have now the choice of converting ■ into the new 34 per cent, loan or selling at the current price and buying new “assentcd*’ stock. The Treasury has made ample provision for meeting bonuses and demands for redemption. It is expected that ready money will be found either by means of normal Treasury bills or a special short-term loan. Much of the success of the conversion is attributed to the newspapers and poster advertising. Further applications are expected from holders abroad, also from recent purchasers of the loan for conversion. The “Daily Express” says it is believed that the amount payable in cash redemption will not exceed £250,000,000.
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Dominion, Volume 25, Issue 265, 4 August 1932, Page 9
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173NATIONAL SAVING Dominion, Volume 25, Issue 265, 4 August 1932, Page 9
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