N.Z. FINANCE
NEW ISSUE BY P.O.
AT 3J PER CENT
(Per Press Association—Copyright)
WELLINGTON, June 29
The Minister of Finance (Mr Coates) announced to-day that the Government has decided to resume sales of debentures and stock on July Ist next, through Post Offices and branches of banks of issue throughout the Dominion.
Securities to be issued are to provide an avenue of investment for the public in the Dominion, and 1 proceeds will be utilised in facilitating the capital works programme of the Government, the policy of which is definitely towards works of reproductive character, namely land development and settlements, Forestry and public works generally.
The interest rate will be three and three-quarters per cent, and the securities are to have' currency to November, 15, 1941, the Government reserving the option of a redemption on or after November 15, 1938. The Minister also stated that arrangemehts were in train for n resumption of the sales of Post Office investment certificates.
In regard to the portion of the original five and a-quarter per cent, loan which falls due for payment on August 15 next, Air Coates announces that holders of the stock would be paid off in cash at maturity.
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Hokitika Guardian, 30 June 1933, Page 5
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199N.Z. FINANCE Hokitika Guardian, 30 June 1933, Page 5
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