Page 8 Advertisements Column 4

Dominion, Volume 14, Issue 201, 20 May 1921, Page 8

7J P.C. FREE OF INCOME TAX. DO NOT DELAY. Thousands of keen investors _ in all parts of the Dominion—many in this, district—have taken un the 7J per cent, bonds issued by the N.Z. Farmers’ Coop. Association of Canterbury. Limited. This is a unique and splendid investment. and calls for prompt action. Some interesting facts about the issue are given in the following editorial quoted from the “Meicantile Gazette of New Zealand”: — "The bonds are in bearer form, and have interest coupons attached. The rate is 7J per cent, free of income tax, and is payable half-yearly. This is tho most tempting offer that Ims been made to the investor since the price of nionev advanced, and no doubt the issue will be readily taken up- The institution bos made an issue of £50(1.800, but is only asking for £250.000 at Jhe present stage- Provided there is ample security behind on issue of bonds, tho investment is a sound one. IV here, tho amount of the bond issue is n. considerable one. end the sum total of the capital of the company is limited, the proposal might not be sound. In the present instance there is paid-up canitat, uncalled capital, nnd reserve fund, amounting to over one and n half millions. so that there seems fo be amnio margin. The bonds are not secured by any snecifie charge on the assets of’tlie comuanv. but are renll.v in the form of a 'naked’ debenture—a new denarture in comuanv finanoj in this country. From the investor’s noint of view, ther rank in nriov'lv, in Hie case of a wind-ing-un. to either ordinary or preferred capital, hut ihej’ faro no hotter or no vovc P than the ordinary creditor.” Tho Association hns Imm established for 40 years, end has paid an average rnto of dividend since its ineontion of 8J n'r conf, on its ordinary caffital. Red the nrnsnoctns. "r rnnlv tor bonds to anj' branch of the Bank of Now,Zealand. any member nt the 'Ho-k ’F'-ohangn, or tliq Association’s Head Office, 'n Christchurch.— * A-f.