REPATRIATION OF INDIAN LOANS
SURPRISE VESTING ORDER IN BRITAIN STOCK EXCHANGE WATCHING THE FRENCH FLEET Received Feb. 9, 6.30 p.m. LONDON, Feb. 8. The Treasury announced a surprise vesting order whereby United Kingdom holders of Indian-dated sterling stocks will receive cash for their holdings and securities, which will be transferred to the Indian Government. The signifiance of the move is that the Treasury has decided to utilise India’s large sterling balances for repatriation of Indian loans. British arms purchases has given India a favourable balance privately estimated at £140,000,000. Stock Exchange markets which have been stagnant for weeks, showed signs of recovery. The tone improved but there was no noticeable increase in business. A leading dealer summed up the position: "We are not jobbing on Benghazi, but the fate of the French fleet.” The tin market was busy during the week.
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Wanganui Chronicle, Volume 85, Issue 34, 10 February 1941, Page 5
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141REPATRIATION OF INDIAN LOANS Wanganui Chronicle, Volume 85, Issue 34, 10 February 1941, Page 5
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