LOAN CONVERSION TASK
TREASURY KEPT BUSY. SPECIAL STAFF AT WORK. Wellington, March 6. A special staff is working at tho Treasury day and night to cope with tho ever-increasing volume of work connected with the conversion of tho Government’s internal debt of £115,000,000. Up to late on Saturday uight offers of conversion were still streaming in, holders of securities valued at nearly £24,000,000 having signified their willingness to accept tho lower rate of interest. Preliminary work extending over many weeks has paved the way for the huge task now being undertaken With the original announcement of the Government’s scheme, the largest of its kind ever attempted in tho history of the Dominion, telegrams and letters immediately started to pour in from bondholders. Tho first offers included many from the Dominion's largest investors, both individuals and companies, the most notable single offer to date being from a firm holding about £3,500,000 in Government securities.
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Bibliographic details
Hawke's Bay Tribune, Volume XXIII, Issue 71, 6 March 1933, Page 11
Word Count
153LOAN CONVERSION TASK Hawke's Bay Tribune, Volume XXIII, Issue 71, 6 March 1933, Page 11
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