BRITISH WAR LOAN
CONVERSION SUCCESS GREAT NATIONAL SAVING ! BONUSES AND REDEMPTION ; FINANCIAL ARRANGEMENTS By Telegraph—Press Association—Copyright (Received August 3, 5.5 p.m.) British Wireless RUGBY. Aug. 2 The total conversion applications so far received number 2,036,700, but delayed applications from holders of the o per cent war loan abroad and from recent purchasers of tho Joan for conversion will augment this figure. Tho number of tho applications suggests that Jour-fifths of tho total of £2,085,000,000 has been converted. The scheme, therefore, lias fulfilled the highest expectations. A great national saving ultimately will accrue. Holders of unconverted stock now
have the choice of converting into the new Si per cent loan or selling at tho current price and buying new "assented" stock. The Treasury has made ample provision for meeting the bonuses and demands for redemption. It is expected that ready money will be found either by means of normal Treasury bills or a special shortterm loan. Much of the success of the conversion is attributed to newspaper and poster advertising. Tho Daily Express says it is believed that the amount payable in cash for redemption will not exceed £250,000,000.
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21252, 4 August 1932, Page 10
Word Count
188BRITISH WAR LOAN New Zealand Herald, Volume LXIX, Issue 21252, 4 August 1932, Page 10
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