FROM AUCKLAND HARBOUR BOARD DEBENTURES.

Franklin Times, Volume 9, Issue 655, 2 August 1921, Page 5

FROM AUCKLAND HARBOUR BOARD DEBENTURES.

Irwsestors who are looking for the safest possible investment will do well to consider the debentures being issued by the Auckland Harbour Board. The security for these debentures rests upon valuable and unassailable assUfcs of the Board, vested in wharves, docks, buildings, floating etc.., which exceed its liabilities by no less than £1,230,717 17s 9d. The Board’s endowments whicm include many acres of the central business area of the city, show a capital value of approximately £3,500,000 and revenue from rents alone produces over, £37,000 per annum. There can, therefore, be no question as to the stability of .the Board’s finances .From the point of view of interest,obtainable by the investor the issue is also one of unusual merit. The debentures have a currency of £0 years. Many undertakings have issued short-dated debentures realising that interest rates must inevitably fall sooner or later. Ihe interest obtainable from the debentures issued by the Board will continue at the present rate, no matter how low other rates may fall. One can, .therefore, rest assured that one’s income fi orn this source will remain fixed for the next 20 years and plans can be made accordingly. At the end of that period the debentures will be redeemed (f par (£100) when the investor will have received the magnificent sum of £2lO for his investment ef £94, tn* equivalent to 0 per cent, pci* annum on his loan. Interest is paid free of income tax iii cases where the income of the holder does not exceed £3OO J year. A detailed prospectus giving full particulars may be had post free on application to the Secretary, Auckland Harbour Board/ P.O. Box 1259,• Auckland. •