I cannot say whether they will be called on the callable date. Obviously that would depend on the interest rate prevailing at that time. If the interest rate then was the same as it is to-day, 3i per cent, I think it is fair to say that they would not be called. If on the other hand, the rate should be two per cent, as it was before the war, perhaps it is a fair assumption that they would be called.
Subtopic: PROVISION TO MEET CERTAIN EXPENDITURES AND GUARANTEE OF SECURITIES AND INDEBTEDNESS