BRAZILIAN BONDS.
CASH INTEREST SUSPENDED. PAYMENT TO BE IN SCRIP. (Received October IP, 8.43 p.m.) NEW YORK. Oct. 17. The Consul-General for Brazil announces that the cash payment of interest on about 500,000,000 dollars (over £100,000.000) of Brazilian foreign obligations will be suspended, and the payments will take the form of scrip, bearing interest at 5 per cent, for a period of three years. The bulk of the obligations is held in England. The announcement ascribed the cause ot" this action as " tho impossibility of acquiring foreign exchange for the transfer of funds."
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Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 21007, 19 October 1931, Page 7
Word Count
93BRAZILIAN BONDS. New Zealand Herald, Volume LXVIII, Issue 21007, 19 October 1931, Page 7
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