EVERYONE A CAPITALIST!

Dominion, Volume 14, Issue 229, 22 June 1921, Page 8

EVERYONE A CAPITALIST!

FINANCIAL EVOLUTION.

(Published by Arrangement.) If everyone were a capitalist, the differences between "capital" and "labour" would be largely dissolved. This evolution is steadily proceeding in New Zealand, for thousands of people have lately, for the first time, invested their money in Dominion trading concerns. A Now Note. Commenting on this fact. "Cambist,” the well-known financial critic, states:— "A new note has been struck by the co-operative associations doing business in tho Dominion. To iheso virile and solid corporations belongs the credit for introducing on a largo seals the Issue of bonds, bearing a high rate of interest, upon terms giving the body oi silent thrifty people in this country opportunities which the present financial stringency has made possible. "By boldly facing these matters, and challenging the Owners of saved money to invest in these novel proposals, it has been found that capital is not so coy as most people imagine. As these lines are being written the co-operative concerns have secured over half a. million pounds sterling on precisely the same lines which the Hawkes Bav Farmers Co-operative Association, Ltd., have adopted.

Hawke’s Bav 8 Per Cent. "The only real difference between this Association and tfie others, is to be found in the rate of interest offered to investors, and the Hawke’s Bay Association proffers a clear 8 per cent, to everyone who would become a bondholder in their company. Then again, the total amount winch this is asking’ for comes to but (XX). as against the owned capital, reserves and assets of the Association. The P ald -JP capital at the end of March, Iff-L amounted to .£162,175. The uncalled capital due in respect of a section of the shareholders who havd not fully paid tor their shares comes to the reserves and undivided profits of the Association at the same date makeup the large sum of of A76,<4-. owning all the foregoing amounts together, a grand total of .£329.987 is arrived at That sum is surely a very fine seo, u‘ty in itself upon which to ba™ a S ™ fond issue of only Opportunity for All. Tt should, however, be pointed out that only X 75.009 of Bonds—from tho issue of J!150,000-are now offered tor application. They are ln T d ® no ' m , ln A tl ?i?Z of T£2s. .£5O, and -£lOO. Interest at the rate of 8 per cent, per annum Will b man) Messrs E C Clarirson W A. X. SmitSf ’J W Arch M’Lean. L M Kay , R. D. M’Lean and R H M Applications arc coming m freely ohango?or aHh^J Napior and Branches.—Advt.