SOUTH AFRICAN FINANCE
£35,000,000 CONVERSION OPERATION IN LONDON (British Official Wireless.) Rec. 10 a.m. RUGBY, Dec. 13. The 'Chancellor of the Exchequer has agreed to the immediate issue of Union of South Africa stock to enable the Union Government to repay the i ransvaal Government 3 per cent guaranteed stock, 1923-53. Tills stock, amounting to £35,000,000, was first, issued in 1923,, when £30,000,000 was issued at par, being subscribed nearly 40 times over. The balance of £5,000,000 was issued in the following year by tender at an average price of £9B 10s 3d. Although the loan is not finally repayable until March 1, 1935, the Union Government is exercising the right to pay it off at a six months' notice.
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Bibliographic details
Poverty Bay Herald, Volume LXI, Issue 18580, 14 December 1934, Page 5
Word Count
120SOUTH AFRICAN FINANCE Poverty Bay Herald, Volume LXI, Issue 18580, 14 December 1934, Page 5
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