LOAN CONVERSION

Greymouth Evening Star, 9 July 1932, Page 7

LOAN CONVERSION

SUCCESS BEYOND EXPECTATIONS [BRITISH OFFICIAL WIRELESS.] RUGBY, July 7. Referring to the. progress of the war loan conversion scheme, the Financial Secretary to the Treasury, Major Elliott, stated in the House of Commons to-day that its reception had been favourable in the extreme, and the postbags to-day had exceeded their most sanguine expectations. The conversions include the following: London County Council, £2,000,000; the Underground Railways Company, £1,044,000; the Prudential Insurance Company,'£l2,ooo,ooo. Trustee savings banks throughout the country are notifying the continuance of their holdings. All of the members of the London Bankers’ Clearing House also announce that they are converting, while the Bank of England is already converting the whole of its war loan holdings. OVERSEAS"”HOLDERS. LONDON, July 8. The Treasury officially informs the Australian Press Association that overseas holders of the loan, including Australian and New Zealand, irrespective of when they receive notifications, will not lose the bonus, provided that without undue delay they take steps to notify assent to conversion, fine prospectuses deliberately omitted the Overseas’ closing date, owing to the variability in time taken for the application to reach distanct countries.