£8,000,000. THE NEED OF NEW ZEALAND.

Horowhenua Chronicle, 17 August 1916, Page 1

£8,000,000. THE NEED OF NEW ZEALAND.

I'jiu prospectus 01 a. loan ui eight iiiihiUil puiuiua is &et out on page -i 01 iu-ilay'o issue ol Tiire Chronicle. 'l ii.i> sum i 6 10 Liu jaibcu lij a.iulinriu ,jl an. .icl ui i'ariiaiiioiiL pusscd a ivccK or so ago, auu l/lie proceeds will be devoted lo tiic carryingon oi .\e\v Zealand's share in Uie war. J. 1 or patriotic reasons alone, the people ol tins dominion should, ensure a successful result lor tiie Uovernmeait's appeal; but there remanis to be considered tlie excellent nature oi the in vestment ottered. An interest ol 4J per cent per annum, iree oi in-come-tax, is offered, and tlie money may bo lont, at lenders' options, for either fourteen years or uvenuy-hve yoais. 1 lac interest will be payaole every hall-year (,i.i .March ana teepteniberj. To raabie small investors to participate iu the benefits the foun otters vo iu.estors, the Government is prepared u; accept subscriptions iroiii J-i upwards, tiiougii no bond will ue issued lor a less sum than £si). An annual sinking, iund lor extinguishnieiit ui the ioau wiinui seventy-five year.-, wi.l come into opeiaunii automat,caliy 'as provided by tlie Public XM>t i'..\Linction Act; so all in all it results that the loan now in process oi Uolation will aliord public b0.;.\,and piiv'iite investors alike uiie oi the safest and most desirable means oi us-' mg spare moneys that ever has oeen made available for the people ol' these parts. An Evening Post reporter who interviewed the -Minister ui I'luance (riir Jof-epn Ward) obtained, some interesting pait.cuhiis concerning the loan. Sir .Joseph said that tlie sinaii 11.ve.-u,iuipi.reuiciius would be met by tiie issues of eertiheates for £l orL'lO (..it Ills option); the eertiheates b.'i.i.g made payable ''to bearer," and tneierore being a negotiable security i'iicVe certiticates may be obtained at any postal money order office in Aew Zealand,. and only at such offices. <J payment oi 10s in cash a certificate lor .1:1, payable in five years, will be is.sued ; and on payment of £S a certmcate for £IU, payable in five years. All other amounts required can be made up by combination of £1 and £10 certificates—thus lor £25, two £10'e, and live i.'l's will be issued. Applicants wishing to invest more than £50 should apply for war bonds, which are issued lor larger sums, with coupons attached for the collection of interest half-yearly; see special circular. I'iie war loaiti certificates are for the small investor. He receives the same interest as the large investor, and the amount payable at the end of five years includes compound interest at 44 per cetit, mi the purchase price. _ The cerfiliciites will be payable to bearer, and can, therefore, be sold, or transferred from one person to another. The most attractive feature in the issue of the certificates, and one that will appeal particularly to the small investor, is the arrangement that a £1 certificate will not cost £1, but l(3s, and tlie £10 certificate only £8, ite actual face value, only being realisable at tlie termination of the live-year period.