SUPPORT FOR GOVERNMENT
PROPOSAL FOR LOAN CONVERSION. NEW PLYMOUTH BANK’S DECISION. Support for the .Government’s loan conversion scheme was expressed by. the trustees of the New Plymouth Savings Bank at a meeting yesterday. It was decided to send the following telegram to the Prime Minister, the Rt. Hon. G. W. Forbes: “Please inform the Minister of Finance that the trustees of the New Plymouth Savings Bank warmly endorse the conversion proposals and will have pleasure in converting their various holdings totalling £71,900.” The total amount of the internal debt which it is proposed should be converted to 4 per cent is £115,000,000. At present some of that amount is at 5 per cent, and the remainder at 5J per cent. The £71,900 held by the New Plymouth Savings Bank is all inscribed stock redeemable on dates varying from’ 1936 to 1941. It was felt by the board of trustees that the Government’s action was the only possible one, and was warmly endorsed.
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Bibliographic details
Taranaki Daily News, 4 March 1933, Page 6
Word Count
162SUPPORT FOR GOVERNMENT Taranaki Daily News, 4 March 1933, Page 6
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