THE WAR LOAN

Dominion, Volume 9, Issue 2854, 19 August 1916, Page 10

THE WAR LOAN

MINISTER MAKES AN APPEAL A SELF-RELIANT DOMINION TERM FOR LOAN CERTIFICATES EXTENDED LONG OR SHORT DEBENTURES? The Minister of Finance. (Sir Joseph Ward) issued yesterday the following appeal to the people of New Zealand to invest in the war loan: — "Our young Dominion lias reached its manhood. It has raised and equipped an army with whoso valiant deeds the world is already ringing. It has provided an efficient unit in the great Navy which guards our common heritage, the sea. And now, to complete in all respects its full •■lnirus to that self-reliance . which should characterise every self-contained people, it proposes no longer to rely on borrowing all the capital required from abroad, but to prove that besides men, organisation, and courage, it has within itself capital to meet a considerable portion of .the extraordinary expense imjwsed by the great war. Will everyone in New Zealand, man, woman, and child, endeavour to help the Government by placing in the war loan whatever sum can be spared, even should such action entail a sacrifice of some luxury which is now denied to our noble soldiers at the front. Let us all feci that we are sharing to «ime extent the sacrifice they are making." Opportunity to Small Investors. Sir Joseph Ward announced that it bad been decided to extend the timo for tho closing of that portion of the loan being raised by war loan certificates, through the Post Office. Applications for the war loan, for amounts of £50 and upwards, would close on Monday, August 21, but to give an opportunity to all sections of the community to subscribe for tho smaller amounts by. buying war loan certificates, applications for this branch of the loan would not close on Monday. The timo would he extended for a few weeks.- Many people in different parts of the country had represented to h'im that they wished to have this opportunity of investing small sums, but that, although they had prospective payments due to them, they bad not the money immediately available. Naturally he wished to avoid denying to these people an oppoitunity to join in raising the loan. In regard to the larger amounts, there was, in his opinion, no necessity to extend the period. He had every reason to say that ho believed the result was going to he successful in every way. Which are the Better Debentures? Sir Joseph Ward went on' to say that as some intending subscribers to tho war loan did not apparently see the value of investing for twenty-five j'ears instead of fourteen, he would meeT the views of those who want to invest for fourteen years by putting them in the.same position, and accept any one sum up to £20,0p0 to bear interest from September 1, providing their application is in on or before tiie 21st instant. He wished at the same time to express the opinion that in all probability an opportunity for the longer term upon such favourable conditions was not likely to arise in this country for many years to come. And as the bonds would be readily saleable, and in all probability would in the next few years be at a premium, he could nit' understand why anyone should for preference select the shorter term, instead of tho longer term. From an investment point of view the advantage Was oa the sido of tho longer term. WAR LOAN CERTIFICATES. Mr. R. C. O'Connor, of tho lecturing staff of the New Zealand Government National Provident Fund Department, has been instructed by the Government to visit the leading business establishments of the City to give short lectures to the workers, by permission of their omployers, on the importance of the industrial ojasses taking up as many as they conveniently can of the war loan certificates. D.I.C. EMPLOYEES SUBSCRIBE £1622. Mr. R,. C. O'Connor, of the National Provident Fund Department, who has been appointed by tho Government to visit the principal local business houses to urge on employees tho importance of their participating in the War Loan Certificate scheme, addressed a full and wympathetic meeting of tho D.I.C. staff last.night. The manager (Mr. W. Simm) presided, and in the course of his remarks announced the gratifying fact that the firm's hands had that afternoon subscribed £1622, and were ctill going strong, the firm assisting in most, cases by purchasing the certificates and accepting small regular repayments from thoso concerned. ACTIVITY ON ALL SIDES "AN IMPERATIVE NECESSITY." ]]y Telegraph—Press Association. Christchurch, August 18. At a public meeting to-night the following motion was moved bv the Mayor, seconded by the Hon. H. F. Wigram, supported by representative professional men, and carried:—"That this meeting of citizens of Christchurch desires to impress upon the people as a whole the imperative necessity of supporting the war loan by investing therein to the utmost of their ability as an ample supply of money is as essential to victory as is a constant stream of soldiers to reinforce our hoys at the front." A motion was alfo passed urging employers in invest in the loan for their employees. £20,000 FROM STANDARD INSURANCE COMPANY. By Telegraph—Press Association. Dunedin, August IS. The directors of tho Standard Insurance Companv have, decided lo invest £20,000 ill the War Loan. PATRIOTIC SOCIETY INVESTS £10,000. Palmerston North, August 18. The Patriotic Soeictv decided to-night to invest £10,000 in War Bonds. War loan sales nt the Post Office to-dav a"gregated £3316. £10,000 FROM KATAPOT WOOLLE'N COMPANY. Christchurch, August is. The directors of the Kaiapni Woollen Company h.ivo decided io applv for £10.000 worth of AVar Bonds," the amount to he withdrawn from the company's reserve capital. OAMARTI'S EFFORT. Oamaru, August 18. A public meeting was held to-night in support of the war loan. The meeting was addresed by the' Mayor (Mr. W. 11. Freoth), Mr. Robert'Milligan (chairman of the Harbour Board), and Mr. F. Milncr (rector of Waitaki Boys' High School). There is a keen demand locally for War Certificates. The

Oamarn Hospital Trustees have decided to invest £1000, and the Waitaki Acclimatisation Society £300. jCoOOO FROM FKILDIXG PATRIOTIC SOCIETY - . By Telegraph—! Press Association. Foildlng, August 18. The Feilding Patriotic Society is investing .-GoOOO in war certificates. A very largo business was done in certificates and bonds at .the Post Office to-day. A public meeting was held to-night, and was addressed by prominent residents and farmers, " urging support of the loan. Napier, August 18. At a public meting in the Municipal Theatre to-night in connection with the War Loan Certificates, speeches wort delivered by prominent citizens, and £600 was subscribed. Afterwards arrangements wero made for the sale of certificates.in tho streets.