Consols (originally short for consolidated annuities, but subsequently taken to mean consolidated stock) were government debt issues in the form of perpetual bonds , redeemable at the option of the government. The first British consols were issued by the Bank of England in 1751. They have now been fully redeemed.
8-532: [REDACTED] Look up consol in Wiktionary, the free dictionary. Consol may refer to: Consol (bond) , a type of perpetual bond issued by the government of the United Kingdom; consolidated annuity, consolidated stock Consol Energy , an American coal mining company, formerly Consolidation Coal Company Consol Energy Center , the home arena of
16-516: A new bond, 2 3 ⁄ 4 % consolidated stock, under the National Debt (Conversion) Act 1888 ( Goschen's Conversion ). Under the Act, the interest rate of the stock was reduced to 2 1 ⁄ 2 % in 1903, and the stock given a first redemption date of 5 April 1923, after which point the stock could be redeemed at par value by Act of Parliament . In 1927 Chancellor Winston Churchill issued
24-584: A new government stock, 4% consols, as a partial refinancing of the National War Bonds issued in 1917 during World War I . On 31 October 2014 the UK Government announced that it would redeem the 4% consols in full in early 2015. It did so on 1 February 2015, and redeemed the 3 1 ⁄ 2 % and 3% bonds between March and May of that year. The final 2 3 ⁄ 4 % and 2 1 ⁄ 2 % bonds were redeemed on 5 July 2015. Section 124 of
32-548: Is different from Wikidata All article disambiguation pages All disambiguation pages Consol (bond) The United States government issued consols from 1877 to 1930, which have likewise been redeemed. In 1752 the Chancellor of the Exchequer and Prime Minister Sir Henry Pelham converted all outstanding issues of redeemable government stock into one bond, Consolidated 3.5% Annuities, in order to reduce
40-683: The Finance Act 2015 made the legal provisions for the ending of the consol. Given their long history, references to consols can be found in many places, including Pride and Prejudice by Jane Austen , David Copperfield by Charles Dickens , The Notting Hill Mystery by Charles Warren Adams , Howards End by E. M. Forster , Vanity Fair by William Makepeace Thackeray , The Tuppenny Millionaire by P G Wodehouse , Of Human Bondage by William Somerset Maugham and The Forsyte Saga by John Galsworthy . Goschen%27s Conversion Too Many Requests If you report this error to
48-467: The coupon (interest rate) paid on the government debt. In 1757, the annual interest rate on the stock was reduced to 3%, leaving the stock as consolidated 3% annuities. The coupon rate remained at 3% until 1888. In 1888, the Chancellor of the Exchequer, George Joachim Goschen , converted the consolidated 3% annuities, along with reduced 3% annuities (issued in 1752) and new 3% annuities (1855), into
56-905: The Pittsburgh Penguins, named after the above coal mining company A&M Consolidated High School , a four-year public high school in College Station, Texas Consol radio navigation system , A long range radio navigation system for aircraft used 1930s-1991 See also [ edit ] [REDACTED] Search for "consol" or "consols" on Misplaced Pages. Consolidated (disambiguation) Consolidation (disambiguation) Consolidator (disambiguation) Con (disambiguation) Console (disambiguation) Consul (disambiguation) Council (disambiguation) Counsel (disambiguation) All pages with titles beginning with Consol All pages with titles containing Consol Topics referred to by
64-409: The same term [REDACTED] This disambiguation page lists articles associated with the title Consol . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Consol&oldid=1240767563 " Category : Disambiguation pages Hidden categories: Short description
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