BRITISH CONVERSION SCHEME
REMARKABLE PROGRESS RESPONSE GREATER THAN HOPED FOR (BritisU Official Wireless) RUGBY, 9th July. The remarkable progress made with the conversion of the 5 per cent, war loan was described by the Chancellor of the Exchequer yesterday as splendidly encouraging. It is authoritatively estimated that including holdings of the loan by Government departments, all of which will be converted, more than one half of the huge total of £2,000,000,000 involved in the operation is already accounted for. General Sir J. Seely, who is acting at the request of the Government as head of the appeal for conversion, said that the response had been far greater than they had dared to hope. All but a very small proportion of the 347,000 applications so far received by the Bank of England, and 269,600 received by the Post Office were for conversion. BANK OF NEW ZEALAND’S HOLDING WELLINGTON, This Day. The Bank of New Zealand has decided to convert the whole of its holding of a million and a half in British 5 per cent, war stock.
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https://paperspast.natlib.govt.nz/newspapers/NEM19320712.2.74
Bibliographic details
Nelson Evening Mail, Volume LXVI, 12 July 1932, Page 5
Word Count
176BRITISH CONVERSION SCHEME Nelson Evening Mail, Volume LXVI, 12 July 1932, Page 5
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