BRITISH TRIUMPH
LOAN CONVERSION
WONDERFUL RESULT
ll NEARLY 90 PER CENT
JEREMIAHS CONFOUNDED
PRESS CONGRATULATIONS
By Telegraph—Press Association —Copyright (Received August 16, 5.55 p.m.) LONDON, Aug. 16 The Treasury announces that war loan conversions with the benefit of the cash aggregate £1,850,000,000. Several delayed overseas applications have still to be dealt with. The applications for redemption are for stock valued roughly at £48,000,000. The newspapers are delighted at the success pf the conversion. They express the opinion that it will immeasurably enhance Britain's power and leadership in the present troublous condition of world affairs. Viscount Snowden says the figures represent a magnificent success. The Daily Telegraph's City Editor says the prospects of the complete conversion of the whole £2,084,994,000 of the stock are extremely promising. Tho Morning Post says the conversion represents nearly 90 per cent of the total. The nation must be warmly congratulated. The Jeremiahs now are confounded by the glory of the event.
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21263, 17 August 1932, Page 9
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156BRITISH TRIUMPH New Zealand Herald, Volume LXIX, Issue 21263, 17 August 1932, Page 9
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