NATIONAL SAVINGS

Chronicle (Levin), 25 June 1947, Page 4

NATIONAL SAVINGS

LEVIN IN VERY FAV OURABLE POSITION Intending National Savi'ngs investors are reminded that investm'ents maide up to June 30 will be repaid in two years (June 39, 1949) , with three per cent. interest for the whole period, stated the postmaster, Mr. L. A. Whitham, today. The new depositing period commences on July 1 next, from which date the repayment date will be June 30, 1950. Intdnding investors should, therefore, aVail Vthemselvesof this gilt-edged, short-tdr-m investment immediately. With regard to the district quota, continued Mr. Whitham, Levin stands in a highly fayourable position, no less than £l2,9l9 of the annual qUota of £13,884 (to March 31, 1948) having been already dejposited. Tt is thought that some people are under a misapprehension regarding the rate of inter.est, and it is stressed that three per cent. is paid' for the full period of the investment. The whole system is identical with the savings banfc investments, interest being assesSed monthly. The only difference is that the rate Is three p'er cent." Mr. Whitham said that investments at present are for a period of two years if they were made by June 30. After that date the period would be three years, this being reduced „ month by month during the investment period. "While the positioh is very satisfactory," concluded Mr. Whitham, "we are very anxious to obtain a big increase in the number of group investors -in offices, shops and factories. To this end the district will be canvassed, and dfforts made to induce depositors td increase their weekly deposits, Snd also obtain new depositors and groups."