asked the Minister for Finance if he is aware that the current issue of 12½ per cent land bonds is at present standing at 88; and if, in view of the grave injustice to owners of land, he will take immediate steps to raise the rate of interest to 15 per cent.
Ceisteanna — Questions. Written Answers. - Land Bonds.
102.
The rate of interest of 12½ per cent on the current issue of land bonds was the appropriate rate at the time the bonds were originally created but owing to the increase in interest rates generally the stock exchange price of the bonds has fallen. A new issue of bonds will be created in the near future and an appropriate interest rate will be fixed for that issue.