AMERICAN FINANCE
Redemption of Securities
(Received 11, 10.10 a.m.) WASHINGTON, Sept. 10.
Because of the unsettled condition of the Government securities market, the Treasury has announced that its October financing programme through which almost 1,800,000,000 dollars’ worth of outstanding securities must be redeemed, will be entirely by exchanges with no cash subscriptions offered.
The Treasury is offering holders 1,250,000,000 dollars fourth Liberty loans at 4j per cent, interest, with the option of accepting four-year notes at 2J per cent, or 10-year bonds bearing 31 per cent, as an inducement to make the exchange. Liberty holders are offered interest on new securities beginning at September 15, although the stock is not callable until October 15. Two-year notes of 1} per cent, will be offered in exchange for 524,000,000 other Government issues due.
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Bibliographic details
Hawke's Bay Tribune, Volume XXIV, Issue 230, 11 September 1934, Page 5
Word Count
131AMERICAN FINANCE Hawke's Bay Tribune, Volume XXIV, Issue 230, 11 September 1934, Page 5
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