LOAN CONVERSION
Auckland Transport Board By Telegraph—Press Association AUCKLAND, Feb. 26. Conversion of loans totalling £290,000 was decided on by the Auckland Transport Board to-day. The new rate of interest will be 4} per cent, and the dale of maturity, 1960. Under the former conditions, one loan of £llO,OOO, carrying £5 19/1 per cent, interest, matured in 1950, and the balance, at £5 10/- per cent, interest, matured in 1952. The new loan includes a premium of £7322 payable on conversion of the main loan on April 1. The annuni charges up to 1942 will be approximately the same as under tho previous arrangements. After that date they wilt increase gradually until maturity, but will avoid a steep increase after 1942, which would take place under the previous terms.
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Bibliographic details
Hawke's Bay Tribune, Volume XXV, Issue 64, 27 February 1935, Page 9
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129LOAN CONVERSION Hawke's Bay Tribune, Volume XXV, Issue 64, 27 February 1935, Page 9
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