VOLUNTARY CONVERSION
HOLDER OF DEBENTURES SUM OF £21,000 INVOLVED (Por Press Association.) AUCKLAND, this day. ‘‘This is extraordinarily generous,” said the chairman of the Transport Board, Mr. J. A, C. Allum, when the board was informed that one of its debenture holders, a resident of Auckland, would voluntarily convert his holdings, which are valued at £21,100. Mr. Allum said the citizen bought the debentures in London, so that they did not come within the scope of the board's conversion order. He had explained that now that he was resident in New Zealand he, felt that, it was 'his duty to convert. “His action .is unique,” said Mr. Allum, “but lie believes that others would do the same if the position .was pointed out. to them.” The' hoard decided to Send the citizen a letter expressing high appreciation of his public-spiritedness in helping the board at a most difficult time.
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Bibliographic details
Poverty Bay Herald, Volume LXI, Issue 18559, 20 November 1934, Page 8
Word Count
149VOLUNTARY CONVERSION Poverty Bay Herald, Volume LXI, Issue 18559, 20 November 1934, Page 8
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