BAN NOW LIFTED.

Star (Christchurch), Volume XLIV, Issue 661, 14 January 1933, Page 1

BAN NOW LIFTED.

New Loan Issues Will be Permitted. TREASURY STATEMENT. British Official Wireless. (Received January 14, 12.30 p.m.) RUGBY, January 13. The Treasury announces: “Now that the series of operations directly associated with the conversion of the five per cent War Loan is about to be completed by the repayment on February 1 of the 5 per cent Treasury bonds, 1933-35, the Chancellor of the Exchequer thinks that the time has come when he may safely withdraw his previous request regarding new issues of capital, except in the following cases: behalf of borrowers domiciled outside the Empire, or issues the proceeds of which would be remitted, directly or indirectly, to countries outside the Empire; and (2) optional replacements of existing issues by new issues, if those new issues rank as trustee securities and involve either underwriting or an invitation to the public to subscribe new cash.” The Chancellor still asks, however, that, with a view to co-ordinating the requirements of intending borrowers and so preventing possible congestion of the market, no issue ranking as trustee security be made without a prior agreement with the Bank of England regarding the amount and date of issye.

DEAL FORBIDDEN.

Treasury Intervenes to Save Sterling.

United Press Assn.—By Electric Telegraph—Copyright. LONDON, January 13. The Treasury has intervened forbidding the repurchase of Boots Stores on the ground that it is impossible for Britain to find the 23,000,000 dollars to pay the American holders without seriously disturbing sterling exchange. It was announced on Wednesdaj' that a British syndicate had repurchased from American interests the control of Boots Pure Drug Company. The syndicate owns £8,500,000 worth of shares in Boots Cash Chemists, with nine hundred branches in Britain. It is believed that the syndicate paid almost £8,000,000 for the American shares. £7,000,000 INVOLVED. British Official Wireless. (Received January 14, 12.30 p.m.) RUGBY, January 13. The official statement issued by the Treasury in reference to the arrangement reported to have been made for the transfer of the British interests of the majority holding of shares in Boots Pure Drug Co., now held by American interests, teported that the sums involved approached £7,000,000.