AUCKLAND HARBOUR BOARD.

Franklin Times, Volume 9, Issue 669, 20 September 1921, Page 5

AUCKLAND HARBOUR BOARD.

LOAN SUCCESS. ___ FEW DEBENTURES STILL AVAILABLE. (Published by Arrangement.) Ou,t of the issue of £IOO,OOO in debentures offered by Auckland Harbourbour Board:, less than £15,000 now remains to be subscribed. This success can he put down to two reasons, faith in the future of Auckland, and the very advantageous terms upon which the loan has been issued.

The interest being paid by the Board on these debentures is 5V 2 per cent., which at the issue price of £94 for- each £IOO debenture, yields b per cent, per annum, including redemption. The loan is secured on the endowments and revenue of the Board, whose (totas assets at the end of last year exceeded its liabilities by no less than £1,230,7f7 17s 9d.. The currency of the loan .is 20 years, so that no matter how much other discount rates may fall the high rate of interest now offered on these debentures will be paid for the full period. This fact v alone makes it a particularly fine investment, especially for those who are looking for a long-dated security. As only such a small amount is now available, intending subscribers areu rged to act quickly? Subscriptions in sums of £94 for each £IOO debenture required should be sent without* delay to the Secretary, Auckland Harbour Board, P.O. Box 1259 Auckland from whom copies of the prospectus may also be obtained. 585.