BRITAIN’S WAR LOAN.

Hokitika Guardian, 15 January 1917, Page 1

BRITAIN’S WAR LOAN.

A Great Success. (Australia & N.Z. Cable Association.) LONDON, Jan. 12. There lias been a great rush on tlio war loan. • ' The Bank of England early this morning handed out hundreds of thousands of prospectuses in an hour. ’ Ihe Prudential Assurance Company applied for £20.000.000. LONDON, Jan. 13. ’ In addition to the Prudential Comj pany’s £20,000,000, other throe subscriptions exceed a million. 'Several applied for a quarter of a million.

Rush for Scrip. ) 1 | LONDON, Jan. 12. The success of the new loan was excellent from the start. The first 100,000,000 was received in a few hours. Lombard street was nearly crowded by investors and enquirers. Several banks requested 20,000 prospectuses apiece. The visitors included many Anzacs, some of whom had substantial private moans, and were anxious to help the Old Country financially. \ The Liverpool Corporation applied for a million.

Details of Loan, LONDON, Jan. 14th. By courtesy of the Extension Telegraph Company who undertook- to cable throughout the Empire full details of the British victory on the war loan are now mado available. Besides the main features of the—? Biesids the main features cabled on Friday it shows that interest is payable on the five per cent loan on first of June and Ist December, instalments are payable as follows: five per cent, on application ; fifteen per cent on March 2nd and 23rd respectively; twenty per cent on April 18th, May 9th and thirteenth respectively. Interest on the four per cent loan whereon -income tax is compounded is payable on fifteenth April and fifteenth October.

The instalments are payable:— five per cent on application; fifteen per cent on 9th March and twen.ty.por cent, on 23rd March and IStlx April; 9th and 13th May respectively The purchasers have the choice of stock or bonds, and the applications must bo multiplies three, of fifty made through the Bank of England or any hanker or stock-broker. The United Kingdom Loans are repayable at par as follows: —five per cent loan on Ist June 1947; four per cent loan on 15th June 1942. If not redeemed at three month’s notice by Government earlier. Tlio five per cent loan will he exempt from British income tax other than, super-tax. 'N Lengthy regulations are embodied covering income tax exempt was the conversion of present holding bonds into stock and other details. The first dividend on instalment allotments of the four .per cent, loan will be a full half year’s interest payable on 15th October, 1917.

Blown UpNEW YORK, Jan. 13. The Dilpont Powder Magazine at Haskell, New Jersey, containing 200 tons of machine gun powder intended for the Allies has been blown up. After a small preliminary warning 1,400 employees escaped and then three heavy explosions occurred. Two employees are reported missing and twelve others slightly’ injured by flying debris Incendiarism, probably of Teuton origin, is suspected. Mr. Massey Honored LONDON, Jan. 12. The Edinburgh University has conferred the honourary degree of “L.L.D. upon Mr Massey. In reply, Mr Massey said he thought that the country had more reasons for optimism about the war than when he was in Edinburgh two months ago. Germany had given the strongest indication of her anxiety for peace; but however anxious the Prussian Eagle was to pose as a dove ho trusted that the full terms of tho Allies’ last Note would bo firmly insisted upon when the Peace Conference was opened. He felt assured that the forthcoming Dominions Conference would only be a forerunner of what would lead to tho re-organisation of the Empire and to a true Imperial Parliament.

An Air Fight. LONDON. Jan. 13. Two British aeroplanes reconnoitering in tho Eastern Mediterranean, arriving at their destination, found two hostile machines patrolling. An engagement ensued and the enemy was driven off. A „ British machine was hit and descended, and the captain immediately burnt his machine The other descended to the rescue ut the stranded. The captain, climbing into the engine “cowl,” both pilots escaped "'lien the enemy approached. The Entente Powers have informed Greece that complete acquiescence is imperative, otherwise General Sarrail will act.

Poland’s Army. BERNE, Jan. 13. Since the Kaiser’s proclamation to Jie kingdom of Poland to December list, sixteen hundred Poles have enlisted, whereof eleven hundred were found medically unfit. Many invalids had enlisted for the sake of pay. The German biasted that 700,000 poles would gpriug to Rfjnp,