§ Mr. LAMBERT (by Private Notice)
asked the Chancellor of the Exchequer whether he can make any statement in regard to the results of the issue of 5¾ per Cent. Exchequer Bonds, which closed on Saturday last?
§ The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)
I gave the House approximate figures on February 24th showing that a total of about £99,000,000 Bonds were converted. It is not yet possible to give exact figures for the cash subscriptions, but I can say that the cash subscribed exceeds £60,000,000, making the total of the issue not less than £180,000,000. Out of a total of £198,200,000 of Exchequer Bonds maturing during 1920 we have therefore been able to provide £138,500,000 towards the £156,400,000 maturities in February and March and £21,500,000 towards the £46,800,000 maturity of 1st December., This will be recognised as a most satisfactory result. It is indeed much better than I had dared to hope or than competent advisers thought possible.