WAR LOAN CONVERSION
APPLICATIONS CONTINUE FEW NOW OUTSTANDING (British Official Wireless.) Ilec. noon. RUGBY, *July 28. A further 74,000 applications for the conversion of the war loan were received by the Bank of England yesterday. There were only 800 applications for redemption. Tho total applications to date aro as follows : Bank of England, 1,086,000; Dost Office Savings Bank, 666,000; trustees savings banks, 86,000; Bank of Ireland, 31,CC0; grand total, 1,869,000, of which 1,755,000 are for conversion. The total holdings are about 2,600,000. Tile Swiss Bank Corporation yesterday deposited for conversion, holdings of £ 1,000,C00, and other large applications are announced from Switzerland and South Africa.
The total of applications outstanding now is under 731,000. Continental holders continue to convert freely.
The scheme has provided a windfall for stock-brokers arid solicitors, who, besides banks, are entitled to commission as agents converting for clients. It is expected that the commission paid by tlie Government will total £3,000,000.
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17844, 29 July 1932, Page 5
Word Count
154WAR LOAN CONVERSION Poverty Bay Herald, Volume LIX, Issue 17844, 29 July 1932, Page 5
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