THE CONVERSION LOAN.

Wairarapa Age, 5 July 1932, Page 5

THE CONVERSION LOAN.

ASSURANCE OF SUCCESS.

ADMIRATION EXPRESSED ABROAD.

BOLD AND WDE 1 1.. 1) <.' V.EN TO OTHER NATIONS.

RUGBY, July 2. The Government’s vast scheme for the conversion of two th -.sand millions 5 par cent. War Lean is assured of complete success. The welcome extended to It was spectacular, and the effect cn the markets, which throughout the day continued in boom condition, was renewed this morning t.l.oii business again showed great activity. The operation has created worldwide admiration, and in several countries is heralded as a step towards the improvement of international economics and as a bold and wise lead to other nations.

United States comment indicates that, accustomed as the Americans are to thinking in large figures, the immensity of the scheme has amazed them and has enormously enhanced Britain’s financial prestige. Incidentally, countries as distant as Australia and China had their credit as borrowers raised by the British Government’s action, and no class of security, British or foreign, failed to feel benefit from the scheme, bo far as British stock is concerned the capital appreciation of half-a-dozen counters m the gilt-edged market exceeded one hundred million pounds on yesterday’s business alone. In the gilt-edged market to-day the nrnflfZv- again . despite some profit-taking, and at mid day tvnieal prices were: Consolidated 4 per cent’ With wt nd T C ° n 'r erSlon 5 P<!r Cent ’ 112 > filth War Loan 5 per cent. 1014. India Bank o7r g r e . raUy an ° ther P° int "P--less th/n Art an St - OCk has risen less than fifteen points to 3121 n Pq l. ers report public support increasing and orders only for X (British Offi -T^ g d ° mestid ( British Official Wireless.)