LOAN CONVERSION.
FRENCH LEGISLATION
PARIS, Sept. 17. After an all-night sitting the Chamber of Deputies passed tho Conversion Bill by 540 votes to 48. The Bill went to tho Senate to-day and was adopted by 291 votes to 9. It come into operation on Monday. It provides for new 4£ per cent, rentes redeemable in 75 years at most and not convertible before January 1, 1939. Tho estimated saving is £ll,400,C00 yearly. The overwhelming majorities for the Conversion Bill are regarded as a political triumph for M. Herriot. Conversion should reduce the cost of living and stimulate trade revival.
An earlier message stated that Franco would convert nearly £IOOO million of 5 and 6 per cent, stocks to 4) per cent.
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Bibliographic details
Manawatu Standard, Volume LII, Issue 248, 19 September 1932, Page 7
Word Count
121LOAN CONVERSION. Manawatu Standard, Volume LII, Issue 248, 19 September 1932, Page 7
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