THE WAR LOAN

Dominion, Volume 11, Issue 154, 19 March 1918, Page 4

THE WAR LOAN

HARBOUR BOARD CONTRIBUTES ANOTHER £10,000. The chairman of the Wellington Harbour Board (Mr. C. E> Daniell) stated at' the annual meeting yesterday that the board had already contributed £30,000 towards the Government's war loans. This substantial jnfestment had been made possibly by the forethought of the men who in past years had laid the foundation of the hoard's sound financial position. He thought that the time had come to make another contribution. .

After reading an appeal from the Minister of Finance in connection with the War Loan,- Mr. Daniell moved tbat the board should transfer to the. special reserve fund the balance, of £12,249 nil the working account for the twelvo months ended September 30, and that the secretary should be instructed to invest £10,000 of the amount in War Bonds.

This motion was seconded by Mr. R. Fletcher, M.P., and carried unanimously. Mr. Fletcher mentioned that few local bodies had been able to contribute so large a.sura as £40,000 to the war loans.

At the meeting of the Council of the Central Chamber of Commerce yesterday afternoon the president (Mr. C. M. Luke) spoke warmly, in favour of the new War Loan, which he hoped every member present would strive to make popular; He felt that mutters were approaching a crucial pass, and it waß only by giving the Empire all the support in their power that they could help the nation and the Allies to victory. _ Mr. Ashcroft Edwards, whilst agreeing with what-Mr. Luke had said, said that lio would like to voice a protest against ttys Government's action in making the interest payable free of income tax. If Sir Joseph Ward was reported correctly, he had said that if that provision were not made he would have to make the interest per cent. With all deference to Sir Joseph Ward, he did not think that was so. He thought the loan could be raised at per cent., subject to incomo tax, almost as easily as though the concession wero not made.