GERMAN LOANS

Evening Post, Volume CXI, Issue 108, 7 May 1926, Page 8

GERMAN LOANS

STATEMENT REGARDING CONVERSION.

The Public Trustee as Controller of the New Zealand Clearing Office has "received from the German Consul for New Zealand the following information regarding the conversion of German Government loans, which is now released for publication: — Under a German statute of the 16th July, 1925, provision is made for the conversion of German Government loans into a loan liquidation debt on the basis of E.M. 25 (i.e., gold marks) for. each M. 1000 of the old loans. At first only those persons who are able to prove their uninterrupted ownership from before the Ist July, 1920, will be permitted to exchange their certificates. Such persons will receive bonds of the Joan liquidation debt and also drawing certificates. Of these drawing certificates a certain number will be drawn each year extending over a period of 30 years from 1925, and the winners will receive five times the face value of their bonds in cash, plus interest at the rate of i\ per centum per annum on the face value, commencing from, this year. The period during which applications will be considered commenced on the Ist April, 1926, and it will close on 30th June next. All applications for the exchange of loans from holders living in Now Zealand should be addressed immediately to the German Consul for New Zealand, P.O. Box 1300, Wellington. German loan certificates, which were acquired by present holders after the Ist July, 1920, are expected to be exchanged later this