HC Deb 15 February 1927 vol 202 cc747-8
47. Mr. WADDINGTON

asked the Chancellor of the Exchequer the total amount of Conversion Stock issued since 5th April, 1921: and the total actual cash and actual conversion amounts received from the transactions?

The CHANCELLOR of the EXCHEQUER (Mr. Churchill)

With my hon. Friend's permission I will circulate the figures in answer to this question in the OFFICIAL REPORT.

Following is the answer:

£823,117,000 3½ per cent. Conversion Loan has been issued mainly in 1921 and 1922: £129,660,000 3½ per cent. Stock being issued for cash proceeds of £99,991,000 and the remaining £693,457,000 3½ per cent. Stock in exchange for 5 per cent. National War Bonds, 5 per cent. Exchequer Bonds and 5½ per cent. Treasury Bonds to a nominal amount, including premiums on repayment, of £463,575,000.

£210,587,000 4½ per cent. Conversion Loan was issued in 1924 in exchange for £148,407,000 5 per cent. War Loan and £57,728,000 5¾ per cent. Exchequer Bonds. In the latter case the consideration for conversion was a cash payment of 2¼ per cent, in addition to £100 4½per cent. Stock for each £100 5¾ per cent. bond converted.