PRICES AND WAGES
Things of the Past THE WARTIME LEVEE JLTJOFIT AND INTEREST NEW STANDARD OF VALUES WAR LOAN CONVERSION (Aust. and N.Z. Cable) Rugby, Oct. 1. Tlie greatest financial <>i>eration in history was completed yesterday, when the 5 per cent War Loan conversion offer closed Approximately £1920 million lias been converted, leaving only £1(55 million, or 8 per cent, of tlie total to lie redeemed in cash on December 1. The press unanimously acclaims
the conversion as a triumph. The Times says the chief lesson learnt is that the war-time level of prices, wages, profits and interest is a thing of the past, and a new level is in the course of being established. The conversion figures were well received in the .British fund market on the London Stock Exchange this morning, but little excitement prevailed. With a disposition to take profits, tlie leaders mostly reacted with declines of one-eighth to onequarter.
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Bibliographic details
Feilding Star, Volume 9, Issue 3848, 3 October 1932, Page 6
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153PRICES AND WAGES Feilding Star, Volume 9, Issue 3848, 3 October 1932, Page 6
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