OVERSUBSCRIBED.

Bay of Plenty Beacon, Volume 8, Issue 14, 6 October 1944, Page 4

OVERSUBSCRIBED.

THE greatest internal loan in the history of the Dominion has been substantially oversubscribed. In spite of the gravest fears that the Victory Loan would fail to meet its objective, over four millions rolled home on the concludingday of the campaign. "It giyes me very great pleasure indeed to be able to announce that the Victory Loan has been oversubscribed," said the Prime Minister, Mr Fraser* in the House of Representatives, in giving the figures of the War Loan. The last day's record subscriptions, he said, amount to £4,072,608, bringing the total subscriptions to the Loan up to £40,278,437. The result speaks well for the individual investor who upon this occasion has given unstintingly, and has been backed up substantially at the last moment by the national investing institutions. It will probably be many years before New Zealand will be called upon to find another such sum in a single year. With th« war declining, and the armed forces being reduced there should be no reason for another such appeal. The town, of Whakatane found just over 80 per cent of its quota, though the Whakatane district found approximately 60 per cent. The total sum subscribed was £54,461, which is actually less than that found for the Third Liberty Loan last year. This is made up as follows: Whakatane £45,596, Taneatua £4,485, Te Teko £3,528, Matata £852. The original quota for this district was £109,000, a figure which was reduced by 17i per cent owing to the remarkable response of the national institutions. Thus it vill he seen that the ulti-* mate goal was £90,750. The actual achievement by a population of one million and a half is something of which New Zealanders may feel justly proud. The objective percentages obtained by the various districts are: Southland 114 « per cent; Auckland 113; North Otago and Marlborough 102; Wellington 101; Taranaki and Gisborne-East Coast Otago 99; Northland 98; Nelson and Wanganui 94; Buller 92; Manawatu .90; Westland 89; Hawke's Bay 87; Waikato-King Country, Thames-Bay of Plenty 82; South Canterbury 81; Canterbury 80; Wairarapa 79.