TREASURY BONDS

Southland Times, Issue 21835, 12 October 1932, Page 7

TREASURY BONDS

CONVERSION IN BRITAIN. (British Official Wireless.) Rugby, October 10. It is announced that the Government will make an immediate issue of £150,000,000 two per cent. Treasury bonds at par redeemable in 1935-38. Holders of 4J per cent. Treasury bonds 1932-34, redemption of which is already announced, may surrender this stock in whole or in part in exchange for the new stock. The list for cash applications will be closed on or before October 12 and for conversion on October 17. BONUS TO CONVERTERS NEW STANDARD IN CREDIT. (Rec. 10.5 p.m.) London, October 11. The converters of 41 per cent, bonds to the new 2 per cent. Treasury bonds will receive 10/- per cent, on each as a bonus. The Daily Telegraph says it is believed that most of the maturing 41 per cent, bonds are held by public departments. The limitation of the issue to £150,000,000 will raise conjectures in regard to the means the Government will employ to redeem £165,000,000 worth of unconverted war loan 5 per cents on December 10. The new 2 per cent, bonds provide a new standard in British credit. Gilt-edgeds became buoyant on the appearance of the prospectus. RUSH OF APPLICATIONS BRITISH FUNDS RISE SHARPLY. (Rec. 1.25 a.m.) London, October 11. There was a great rush of applications for Treasury bonds, the list being open for only an hour. The success of the issue had an immediate effect on British funds, which experienced sensational rises. The assented war loan rose 21/34 and the conversion issue 12/6.