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Wednesday, 23 November 1927

Mr PAGE (COWPER, NEW SOUTH WALES) (Treasurer) - The answers to the honorable members questions are as follow : -

1.   The exact amount of interest payable last year on the loan which matures on 15th December next, is not readily available as holdings in this loan were redeemed from day to day throughout the year and in such cases interest was payable only to the date of redemption. The amount of this loan outstanding at 30th June last was £39,329,570, consisting of £29,783,480 bearing interest at 4½ per cent. and £9,546,090 bearing interest at 5 per cent. Assuming that the £36,000,000 is composed of 27½ millions of 4½ per cent. and8½ millions of5 per cent. loan the interest for one year would be £1,662,000.

2.   The total amount of interest payable for a full year on the £36,000,000 after conversion will be £1,890,000.

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