£1,600,000,000 CONVERTED
NEW WAR LOAN STOCK FALLS.
“GILT-EDGEDS WILL RECOVER.”
By Telegraph—Prtas Assn.—Copyright. Rec. 7.45 p.m. London, Aug. 10. Official returns indicate that 15,703,000 cash bonuses were paid to Saturday, so it is inferred the total of the war loan converted during July is over rather than under £1,600,000,000. Owing tq the weakness of gilt-edged stock and the buoyancy of American stocks. Assented War Loan fell to 97 but later rallied to 975. The regrettable fall gives an advantage to those who exchange now from the war loan over the patriotic holders who responded to the conversion appeal in July. The Financial News thinks the official announcement of the result of the conversion, which is now imminent, will restore most Tosses gilt-edged prices may have suffered.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TDN19320811.2.32
Bibliographic details
Taranaki Daily News, 11 August 1932, Page 5
Word Count
126£1,600,000,000 CONVERTED Taranaki Daily News, 11 August 1932, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Taranaki Daily News. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.