NEW SOUTH WALES STOCK
CONVERSION ARRANGEMENTS Holders of New South Wales 5£ per cent, funded stock > which matures on August 10. arc being offered by the State Treasury the right to convert their holdings into 5J per cent, funded stock or debentures at par, with a currency of 5, 10 or 15 years. Interest, which will be pay. able on February 10 and August 10 in each year, will bo free of State income tax, but subject to Federal income tax. The amount of the maturing stock ilisted on the Stock Exchange is £3,930,239. The amount due on August 10 next is £6,397,541, but as the Stock Exchange shows only the amount mentioned above, the reminder is held either on account of some official trust funds or by the Government Savings Bank, or by both. On the same date there is another amount due, £415,000, bearing interest at the rate of 41 per cent., but as no mention is made of an offer for conversion it may be taken in this case, too, says the Syd. ncy “Morning Herald,” that the loan is held by some public trust fund.
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Bibliographic details
Manawatu Times, Volume XLIX, Issue 3394, 9 July 1926, Page 12
Word Count
189NEW SOUTH WALES STOCK Manawatu Times, Volume XLIX, Issue 3394, 9 July 1926, Page 12
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