FRENCH FINANCES
NEW BOND ISSUE Press Association—By Telegraph—Copyright. PARIS, July 20. (Received July 21, at 12.10 p.m.) Subscription lists for the 4 per cent. Rentes Perpctuelles, with a guarantee against exchange fluctuations, opened this morning. The issue is confined to holders of National Defence Bonds. The Government is undertaking a wide publicity campaign in connection with the loan.—Reuter. [The conditions regarding the new 4 per cent. Perpetual Bonds for holders of National Defence Bonds recently announced by M. Caillaux (Minister nl Finance) "stated that the half-yearly interest would bo at the rate of 4 per cent, annually, if tho exchange remained at between eighty-five and ninety-five francs to tho £. If the exchange was above ninety-five, the somiyearly interest would ho calculated at 4.85 per cent, annually of tho average ruling exchange determinable halfyearly, Thus a weakening of flic exchange would moan a larger interest payment, while an improving one would mean tho augmented value of the standing coupon.]
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Evening Star, Issue 18998, 21 July 1925, Page 8
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158FRENCH FINANCES Evening Star, Issue 18998, 21 July 1925, Page 8
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