HUGE CONVERSION
DOMINION'S UNI>ERTAKING MORE THAN £2B MILLIONS MR COATES’S APPEAL (Per Press Association) Wellington, March 11 On a population bay's the New Zealand (•o'fe'.Vunqiit/.-. --The mo l< ,r the conversion of th e 1115,000,000 internal debt is a far larger undertaking than that of the British Government’s £I,OOO miiliou conversion. This statement was made by the Minister of Finance the Hon. J'. G Coates, in a linal appeal to bondholders just before the House rose tc-r tile recess last evening Mr Coates said it was no exaggeration to say that* the Conversion scheme being undertaken in New Zealand was gigantic. it was the most naoiiiei-ntous financial transaction of its kind ever contemplated in the history of tile Dominion, and on a population basis, New Zealand’s conversion was equal to the conversion of no - less than £3CKTi million in the United Kingdom.
A plicat ions for conversion totalling over £23.000,n00 line! been received bv the Government, up lo last- night.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/FS19330311.2.53
Bibliographic details
Feilding Star, Volume 10, Issue 2977, 11 March 1933, Page 5
Word Count
160HUGE CONVERSION Feilding Star, Volume 10, Issue 2977, 11 March 1933, Page 5
Using This Item
Copyright undetermined – untraced rights owner. For advice on reproduction of material from this newspaper, please refer to the Copyright guide.
Log in