CONVERSION LOAN.
AUSTRALIA'S FINE EFFORT. RECOGNITION IN LONDON. (Received September 1, 8.15 p.m.) LONDON. Sept. 1. All the London newspapers report the success of the Australian conversion loan. The Daily Telegraph's financial, editor describes it as a desperate remedy for a desperate situation. It certainly now seems that Australia is likely fo bo one of the first nations to set her financial bouse in order. The Daily Express says no olhor country has made such demands on the stoic qualities of her people. MAGNIFICENT SUCCESS. TOTAL NEARLY REACHED. (Received September 1. 11.25 p.m.) SYDNEY. Sept. 1. Estimates compiled by .officials of the Commonwealth Bank indicate that the conversion loan has been a magnificent SUCCCSS. After checking to-day's figures it is estimated that £541,000,000 will be converted out of the requisite £556,000,000, and that the dissentients' holdings will bo under £15,000,000. The commissioners of the, reconstructed New South Wales Savings Bank have decided to convert the bank s securities, amounting to £29,477,000, of which ■£l24 991,000 is represented by State securities.
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Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 20967, 2 September 1931, Page 11
Word Count
170CONVERSION LOAN. New Zealand Herald, Volume LXVIII, Issue 20967, 2 September 1931, Page 11
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