NATIONAL SAVINGS

Evening Star, Issue 20988, 30 December 1931, Page 7

NATIONAL SAVINGS

INVESTMENTS IN BRITAIN (British Official Wireless.) Pr«M Association—By Telegraph—Copyright. RUGBY, December 29. (Received December 30, at noon.) The Treasury announces that from January 18 the holders of savings certificates issued prior to April 1, 1922, first issue certificates at _lss 6d, may convert the value of their certificates into one or more of the following securities: —National savings certificates conversion issue, 4J per cent.; conversion loan, 1940 to 1944, 4 per cent.; nationail savings bonds (series B). For the purpose of the conversion certificates of the first issue, which have not yet reached ten years’ maturity, will bo treated as worth the present encashment value, plus Is bonus duo on each 15s Od certificate at ten years’ maturity. Thus a certificate bought on March 31, 1922, will be treated, if converted on January 31, 1932, as worth 25s lOd. The national savings movement has done a great work in promoting popular thrift. It has been so successful that the total number of savings certificates sold from the first issue in February, 1916, to August this year was £1,048.575.000, with a cash value of £824,470,000. The amount remaining to the credit of investors in savings certificates on that date was about £500,000,000. It was on April 1, 1922, that the price of the certificates was raised by 6d to 16s, with a maturity value remaining of 20s, and it is to those issued before that date that the present announcement applies.