. V<“~J‘-1 v '1

‘ _ must one of.th followingbonds without even checking

’ sliced office of the Bank of Canada at Ottawa are busy

‘9!"

mot fail, “t e faith of Canadians in Canada

"*1 .

l D ith the great majority of the outstanding bonds now

ii...To Bo

'anadians nite On Conversion

Not since the days of war when the nation ' o to buuyedaigg “meltkei the tools of war have Canggiahs appe m e on an ro‘ect \ Canal‘da Conversion Loan.y F J as they have on the

ram coast to coast people of all walks f l'f " answered the call to convert their old borijdsltg that: ones at higher interest. And it isn’t only personal profit of the bondholders which has motivated the 'success of the loan.

FAITH OF CANADIANS IN CANADA

A leading newspaper editorially suggests a basic

.reason wh an undertaking of this magnitude could

Quoting Mr. Diefenbaker’s Conversion Loan ad- dress to the nation, the paper says: “We often hear it saidthat nations and governments seem to be able to achieve things under the stress of wartime emer- gency that they cannot do in times of peace.

“Surely it need not be so. Let us prove that it is not 'by entering upon this undertaking in the same (Splrlt and With the same determination that brought such distinction to Canada during two great wars.”

CONTINUOUS PRESSURE ON SALES AGENTS

That is what has been happening. Since the opening date, bondholders have been converting at a pace which has put pressure not only on the Bank of Canada but also on the chartered banks and other financial insti- tutions.

’ It has been a united effort. Conversions have come from ' every type and grouping of Canadians, from banks, insurance land trust companies, from universities, from pension funds, from religious organizations, from civic and provincial governments, land from literally hundreds of thousands of individual bond

holders. v UNITED EFFORT BEHIND LOAN another indication of the spirit and unity placed behind

the loan has been the time and effort spent by those seeking v

to help people convert their Victories to new Conversion Bonds.

0 stone has been left unturned to assure that every Canadian, even the holder of a single $50 bond, has an opportunity to fake advantage of the greater investment possibility of the new can.

The Conversion Loan is by far the biggest financial project ‘

the press, dealers, and the man in the street has supported

ver undertaken in Canada in peace or war. The response by ,e belief in “the faith of Canadians in Canada.” '3 l

b ﬂown Spot 0 ’c—éConvertible ’7’

"‘To helpw‘banadians readily unaware that they held bonds

an 6'16th rcoiéilerted, the Bank v '- a to a , . , , fmkﬁgfo‘mula y who 5. keeps‘ja listing of their i Bonds eligible for conversion “intuit” can 30‘” identify the

reflxes in advance '0: the their strong box. ‘ . rial number; L7; L9; P3; 1‘5; “September is is the deadline , ' " . r s. torpconverting these bonds to

3 some invostors have been the“ attractive new issue. ‘

u s57

usiesi ,Fll

torapherl

, “Seems like embody is converting Victory Bonds," ‘imuses Nicole Ladouceur, who today rates as Canada’s. busiest photographer. Nicole and her associates in the.

“photographing on microfilm each of the bonds turned in

to: the bank for conversion. The bonds/are stored for a ,, od before being destroyed in the bank’s incinerators. converted, the girls face a huge backlog of photography as indicated by the stack of bonds on Nicole’s desk.

Hdppens... '-

The same atmosphere of rigid Present‘ét VeVéTY Stage 0f the

.dentify Victory Bonds which whichgcould qualify for the t ’ pend this Gonversion issue. Those persons ‘

Leecock manuscripts, one of them written on the back of an old McGill' University examinav tion paper, turned up recently in an old carton in a vault of the Bank of Canada at Ottawa.

They had lain there since the war, when they were written by the great humorist as his contribution to one of the Vic- tory Bond campaigns.

The manuscripts were dis-

Wonien Quick? To. See In Good Deal

good business heads, according to records of Canada Conversion Loan officials.

For example, one Ottawa woman who has carried on small investment dealings for several years, walked into ‘her dealer the day after the Conversion Loan was announced and ten dered eighteen $1,000 Victory Bonds for conversion to the new 25-year 4% per cent. issue. In that single quick action she increased her annual interest on the bonds from $540 to $810

nice cash adjustment as well. FOLLOW SUIT

Loan. officials called upon other women holding bonds to follow suit before the September 15 deadline. Many women [bond holders have changed their names through marriage and others have inherited their bonds from husbands or other male relatives. Sales agents thus have difficulty tracing them.

Many women purchased bonds” during the war as a patriotic gesture and tucked

thinking of their investment possibilities. Now they have an opportunity to greatly enhance that investment but unless they approach an investment dealer, bank, or trustcompany, the op-

: ' portunity could be missed.

MAY NOT KNOW In some cases the women bond holders may not even know they have them. These are instances where the bonds formed part of an estate which

First Shlpment- Canada first shipment‘of the new bonds from the Ba Montreal where, under the watchful eye of A. Huberd eau,

send them to banks and other financial institutions for fin al distribution. Victory Bond holders have until September 15 to convert their Victories to the new higherint'erest bonds L '

JIWomen are proving to have ‘

per year. And she received a -

them away as a saving without .

handling of new bonds or cur-

bonds which have served their

{Security which surrounds the storing and disposal 0f the 0”

rency is applied to the handling 0f old bonds returned to the Bank of Canada on maturity or 'when called,

They are placed in rolling cabinets. secured by four pad- locks, and are conveyed to the

' or M

purpose. Details are recorded on microfilm and, following a period of storage, the bonds are burned in the bank’s incinera- tors.

Custodians must be present because each holds a key to one of the four padlocks.

The process is shown awe ' WW

is being administered by .an executor. Even with the huge army of bond people seeking out the eligible Victories, many holders will be missed if they do not voluntarily come for- ward. This applies particularly to people in remote areas. People in doubt as to whether their bonds are eligible for con- version are advised to contact a financialaduso' n' “ M~

l...— he,

Leacock Manuscrip

ii Found In Bank V

covered when Mary Young, secretary in the Bank of Can- ada, was searching through old records to find some of the publicity done on the Victory Loan drives. They were pub. licized extensively at the time by the National War Finance Committee.

The papers were accompanied by a note from Leacock, ex- plaining that he was sending the writings to the Bank as a contribution to the war effort.

It is the loans put out during those years which the govern- ment is now converting to long-

term Conversion Loan Bonds, at . interest rates as much as 50 per

cent. higher than the original

\ rate carried by the Victory'

Bonds.

"we-fr:

. , . Conversion Bonds worth millions of dollars are shown in this the “ﬁghts .WmCh they nk of- canad a, They were shipped to theﬂBank of Canada agency in now have, official: pointed

5 my." Ijefi In Big rive '

With just one full week to go, the Canada Conver—‘ sion Loan of 1958 today reached 80 per- cent. of its ' objective of $6.4 billion and a successful conclusion to the biggest financing undertaking in Canada's history was near.

. Since the Hon. Donald Fleming, Minister of Finance, spoke tothe people of Canada by radio and ,- television a week ago, there has been a literal avalanche of individual conversions, Bank of Canada officials dis.

- closed. Many of these conversions were for small

amounts, $100 or less, a ‘ ‘ factor which was specially welcomed by the 10 an organization since it demon- ' strated that the people of V Canada as a whole are solid- " ly behind the Conversion Loan, just as they were behind the Victory Loan . campaigns during the war.

"DEADLINE 1, Twenty per cent. of the

Victory Bonds which can be exchanged for the new Con- VerSion. issues are still out- ‘ standing, however. Those : who fail to take advantage , of the opportunity to con- . vert their holdings into the higher interest Conver- ; sion Bonds before next Monday night will lose

11.nost assume

out. _ From the outset, the Conversion Loan has been well]

Monique Grondines and Suzanne Lafond prepare to received by the Canadian public which realized that it was serving both its own and the nation’s interests by ‘ extending its loans to the government. . ‘ ' \ The Minister of Finance pointed out that the suc-' No ~ cessful completion of the Conversion Loan would clear the way for not only the Federal Government but also ‘ the provinces, municipalities and private busmesses to

plan necessary financing for future development pros

' r ' ‘d ,_ ., l . ,. v . OF TIME “min? Soiiiisigitfé‘ﬁi‘iidiisi $333? factor in the? LIMIT

Government’s policy of seeing that the purchasing power ' of the Canadian dollar is not reduced by the dangers of There will be no extension of the September 15 dead-

mﬂaﬁon' BIG CAMPAIGN - . Returns to date have set new records in‘ public trident-3r gffd.°°;“°{;;°"ne‘$ financing in Canada, but to attain the complete success Conversion Loan issue. a that the Government seeks, it is essential that as many Everything 1! a s b e e n as possible of the small $50 and $100 units be converted fem: f1” “@19ng the this week. Final success will depend upon the quick £22m: ‘35,,‘1‘3‘°,;5o§§y;; reaction of individuals themselves. . . _ ' many factors to be practical,- Primarily, it is ointed out, the Canada Conversmn officials of the Department Loan serves the in ividual (interests of every Victory; of_ Finance'said. Tobe dealt Bond holder‘ whether his holding be large or- 5113311., Wm" ippllcatms must be It. provides these holders with the right to exchange $31!, waxy??? “‘11:”: their holdings for new bonds which have the same panics; or ,mbmﬁg‘mcn‘gt security as Victory Bonds because they are backedI later than the close of busi- by the nation itself. - . ‘ , Next Monday at the close of busmess the books‘

of the Canada Conversion Loan.

M . ,.

571‘»

in i

’D

MARY YOUNG

ncss. September 15, 1958. ' She Made A Find! ' will close and the Canada Conversion Loan of .1958

, » will have become a red letter chapter in Canadian financial history.

Conglsior]

The hunt for Victory Bonds for conversion under Canada’s great Conversion Loan has led from cellar to attic with young and old par- ticipating. Some unusual items have been turned up in the search.

0 Bond dealers found one Victory Bond . \ ' framed and hanging on the wall in a. resi- \ deuce. The lady ‘Who owned it regarded it '

‘ as a recognition from the Government that she had made a contribution to the war effort. She had completely overlooked its cash value. ' '

*tt

0 An investment dealer in Winnipeg was . approached by a. _97—yea.r«ol‘d gentleman

‘ who expressed his canfidenoo in both his own and the country’s future by. offering bonds for conVersion to the 25-year Ill/2%

issue. as s: as ‘ ‘”

i O A safety deposit box, untouched for 10 1 years, yielded an individual bonanza of 7,000 in convertible bonds rather than the $700 which the owner had thought it held.

a o e

...TooGoodToMiss_l

O In Montreal an elderly lady approached a

securities company with $20,000 in bonds -\

in a metal biscuit box which she kept in

her kitchen.

***

O A Halifax woman revealed that she kept her bonds in a grocer’s paper bag on her grocery shelf in the kitchen. “Burglar: would never think of looking there,” she

explained.