TEN MILLION WAR LOAN.

Kaipara and Waitemata Echo, 11 September 1919, Page 2

TEN MILLION WAR LOAN.

CLOSES THIS'MONTH.

The prospectus of the £10,000,- . 000 war loan for New Zealand,,^ appearing elsewhere, states th^Mlr^ the subscription list will be close«P^ on Thursday, September 25. Theterm is for 20 years at 4}^ per cent, free of income tax. The prospectus draws attention to the provisions of the Finance Act of 1918, under which persons can be compelled to contribute to the loan an amount equal to three (: times the yearly average land tax, plus income tax (exclusive of excess profits duty) paid, or payable by them for three years ended March 31, 1918. All moneys invested under the compulsory clauses of the Act will bear interest at the rate of 3 per cent per annum only. Every person is expected to give to the full extent of his ability in this loan, and subscribers to previous loans are not relieved from obli- * gation to subscribe to the present one.

The loan is to be utilised for repatriation and payment of soldiers and other purposes in connection with the war, and is to take the form either of in" scribed stock or bearer bonds (at the option of the subscriber) or Post' Office securities.

To enable persons of moderate means to subscribe to the loan, applications will be received at any postal money-order office for Post Office war certificates, or for Post Office 5 per cent war loan inscribed stock. The banks have agreed to allow-advances at a reasonable rate of interest to clients who desire to invest in the loan, but have not the money available to do it within the time prescribed, Arrangements will be made for New Zealand war loan securities to be quoted on the London Stock Exchange as soon as the British Chancellor of the Exchequer agrees.