BRITAIN’S DEBTS
CONVERSION SCHEME OUTLINED. British Official Wireless (Received Mar.ch 26, 6.30 p.m.) RUGBY, March 24. Tenders were opened to-day, at the Bank of England for the new 25 percent. conversion loan, announced last week. The object of the operation is to reduce the floating debt. Tenders will be invited for a weekly maximum. The amount of conversion loan and Treasury Bills, allotted to-day was £45,000,000; the amount of the conversion loan sold being restricted to £5,000,000. The result of the tenders was the application for £77,480,000. Applicants for the conversion loan, who tendered at 94, received about 67 per cent of their requirements; tenders of about 94 received their requirements in full. Tenders will be invited next Friday for Bills and Loan amounting to £45,000,000, of which the 25 per cent, conversion issues do not exceed £10,000,000.
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Bibliographic details
Timaru Herald, Volume CXXXVII, Issue 19450, 27 March 1933, Page 7
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138BRITAIN’S DEBTS Timaru Herald, Volume CXXXVII, Issue 19450, 27 March 1933, Page 7
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