NEW WAR LOAN

Bay of Plenty Beacon, Volume 2, Issue 219, 30 September 1940, Page 5

NEW WAR LOAN

NEW ZEALAND GOVERNMENT PARTICULARS OF STOCK An announcement is published today concerning the New Zealand Government War Loan, 1953, prospectus of which is being issued. The proceeds of the loan are to be used for equipping and maintaining the armed forces of the Dominion, and for other war purposes. Payment for the stock is as follows: £30 per cent on application; £40 per cent on 16tli December, 1940; and £30 per cent on 25th March, 1941. Stock on this issue is non-inter-est bearing up to Ist October, 1943. Interest Avill be paid thereafter at the rate of 2% per cent per annum, a first interest payment of £1 5s per cent to be made on Ist April, 1944. Any person wlio has made a loan free of interest to the Government for the purpose of the War Expenses Account,- may apply to convert such loan, in whole or in part, into an equivalent amount of stock of this issue. Any person who has made a gift to the War Expenses Account may reduce his contribution to this loan by the amount of such gift. The Minister of Finance has indicated that he will not regard any person as having subscribed in proportion to his means unless such person has subscribed to this loan at least the amount of income tax normally payable in February, 1940, on income earned in the year ended 31st. March, 1939, decreased in the case of individuals by £50 and in the case of-companies by £70 Applications will! be received at the Reserve Bank of New Zealand, Wellington; at the District Treasury Offices at Auckland, Christchurch and Dunedin; at any branch of any Bank in the Dominion; or any Postal Money-Order Office, or . from members of any Stock Ex--change in the Dominion. The List of Applications will be closed on ! 18th October, 1940. «