P.O. CERTIFICATES

Hokitika Guardian, 30 September 1933, Page 3

P.O. CERTIFICATES

THE ISSUE -RENEWED. (Per Press Association — Copyright ) WELLINGTON, September 29 Post Office Investment certificates which were withdrawn from sale on February 28th last, -consequent upon the then impending legislation affecting interest rates on Government and local -body securities, will again be available -for purchase by the public on and after October 2. An announcement to this effect was made to-night by, the Minister of Finance. The new issue of this form of security, which the Minister mendoned had been very popular in the past, will be on the lines of the British -national savings certificates, in that -although a definite -currency of six.years is provided for the, certificates will have -a graduated redemption value, after a .L-pse of six months from the date of issue, and, furthermore, they will remain in-terest-hearing for a -period not exceeding four years from their fixed maturity date.

The redemption value six years from the date of -purchase has been calculated on a basis -of approximately 3.V Or cent, interest compounded • and t]j|e intermediate redemption values which are on a monthly basis, following the first six months, provide, that, the maximum, yield shall not be avai.able until the closing stages -of the life of the certificate.