The local office of the Hongkong Shanghai Banking Corporation has received the following telegram from its London office dated July New issue 5 per cent. Treaswy Bonds at 97 repayable 1929 ¢on-vertible at holders' option in April or October, 1922, into 34 per cent. Conversion Loan at £146 for each £100 converted. Five per cent. Exchequer Bonds, 1921, and 5 per cent. National War Eonds maturing up to September 1, 1923, are convertible into 5} per cent. Treasury Bonds at par with cash payment of £4 per £100, Exchequer Bonds, 1921, and National War Bonds, 1922, and cash payment of £3.10 per £100 National War Bonds maturing 1923.
Text read from the printed page and cleaned; old type leaves the occasional error.