TWENTY YEAR INCOME.

Franklin Times, Volume 9, Issue 668, 16 September 1921, Page 5

TWENTY YEAR INCOME.

FROM AUCKLAND HARBOUR BOARD DEBENTURES. (Published by Arrangement.) To be able to draw a lump sum of money in 20 years’ time, just when one’s children ire reaching a marriageable age, is a fine prospect to look forward to. But when, at the same time, one can obtain a substantial sum in interest every half year throughout this long period, one can regard the future with a feeling of confidence and security. It is because these advantages are offered by the Auckland Harbour Board’s debenture issue, that the loan has been freely taken up by far-see-ing investors, and to-day less than £i5,000 of the issue of £IOO,OOO remains to be subscribed.

This small balance will undoubtedly be absorbed very soon, and intending investors should lose no time in making their applications. The debentures are in sums of £IOO, but are issued at £94 . Hie rate of interest paid is 5 V2 per cent., which at the price of issue, yields, including redemption, 6 per cent, per annum. The assets of the Board at the end of 1920 were valued : at, over three millions sterling, and exceeded the liabilities by no less than £1,220,717 17s 9d. The revenue for the past year was nearly £300,000, and after paying interest on existing loans and sinking funds, over £46,000 was carried to reserve. The finances of the Board are therefore in a thoroughly satisfactory condition. The present loan is required to extend the facilities of the port ahd provide greater wharfage accommodation which will eventual iy increase the revenue now obtained.

Subscriptions in amounts of £94 each £IOO debenture required should be sent to the Secretary, Auckland Harbour Board, P.O. Box. 1259, Auckland, from whom copies of the prospectus may be obtained on request. 5b7