* * *
AN ARGENTINE CONVERSION.
.. A feature of markets during the past few weeks has been the steady improvement in some of the South Anierican Loans, and especially Argentine descriptions. There has been a marked improvement for some_ time past in the economic Situation in Argentina, due very -largely to the rise which has taken place in the prices of Argentine products. The effect of this improved economic position. upon Argentine stocks has been the more pronounced owing to a recognition of the fact that Argentina has during very difficult years endeavoured to keep absolute faith with the holders of her external bonds. Moreover, it is evident, too, that she has been able to strengthen her liquid resources -abroad, for details ..have recently been announced of a scheme for converting. out- standing 5 per cent. Bonds into a new 44 per cent. issue, and a feature of the scheme has been the revelation of Argea.
(Continued on page 464.)
Financial Notes
(Continued from page 462.)
times readiness to repay a eonsiderable amount of 'these 5 per cent. Bonds. The, was well received in the City and Argefitine Loans ave' advanced.
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