London, July 25.
Of the huge number of applications handled by the Bank of En, land' since the launching of great" £2,000,000,000 War Loan con-tersion scheme,'the holders, of only '22 in every #100 have requested Tedemption instead of conversion.
This, indication of the groat suc-ices of the scheme was given by Major Waiter Elliot, Financial Secretary to the Treasury, in the course of a speech at a. luncheon in'London to-day.
Another illuminating revelation made by Major Elliot was that bonds representa £1,000,000,000, jor full if of the loan, bad already been converted, He declared that the number of holdings totalled 2,600,000.
Assents to the conversion plan had hitherto numbered 1,587,000 and dissents 115,000.
Tu terms of the money date, he added, the mounted to only 2p Reuter, London, July 81.
The week-end marks the triumphant conclusion of the first phase of the War Loan conversion scheme. Although holders may convert until September 30, to-day, except for overseas holders, is the' last day for Posting conversion appl order to secure the £1 per bonus, Forty-four thousand applications for conversion were received by Bank of England yesterday morning, while another 18,600 were. received by the Post Office Savings ceived to date total 2,105,000, of Bank, The total applications ye. Which 1,970,000 are for conversion. The conversion applications include practically the whol of the big War Loan holdings in the hands o large There will be no Bank Holiday rear for the great army of ort out, bonus. warrants, wroughout the "week-end send are working at fu purine Thi of British Indus-forecast for the quarter of the year describes that the success of the operation it likely to mark the turning point in Betti' commercial boston, and adds' that it is. probable that Bue {ain's domestic trade will continue present substantially" unch though nation abroad fs ery "to" grow worse before thors coan be any permanent improvement, Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.