WAR LOAN CONVERSION

Hawera Star, Volume LII, 28 July 1932, Page 5

WAR LOAN CONVERSION

SUCCESS OF BRITAIN’S PLAN

EFFECT IN NEW ZEALAND POSSIBLE INTEREST SAVING. DEBT OP TWENTY-FOUR MILLIONS. (United Press Association —By Electric Telegraph Copyright.) Received 10.30 a.nf., to-day. OTTAWA, July 27. Mr. J. G. Coates, head of the New Zealand delegation to t/he Imperial Conference, has expressed the opinion that England’s* successful £2,000,000.000 loan conversion may have an important bearing *on New Zealand’s external interest charges New Zealand owes Britain £24,000,000, representing five per cent, funded war debt. Mr. Coates considers there is a prospect of reducing this to the same r.liree and a-half per cent, rat© as the British conversion loan. The presence of Mr. Neville Chamberlain, Chancellor of the Exchequer, at Ottawa happily provides a. favourable opportunity for discussing the matter.

FINAL LONDON RUSH,

INVESTORS SEEK BONUS.

LONDON. July 27

The final rush to secure the bonus on the war loan conversion has commenced. the biggest conversion of the day being £734,000 bv the Scottish Australia Investment Company. It is believed large numbers are postponing their applications until the last moment. The stimulating effect of the conversion on all securities is shown by the Bankers’ Magazine, which states that 365 leading stocks have appreciated in capital value to the extent of £273,000,000 during the month ended July 20.