WAR LOAN.

Manawatu Herald, Volume XXXVII, Issue 1460, 16 October 1915, Page 3

WAR LOAN.

APPEAL TO THE PUBLIC

Particulars have been issued by the Government ot the conditions under which the Government are invited to invest in the .£2,000,000 loan, authorised by legislation last session to be raised in New Zealand for local expenditure during the war. "In view of the financial strain at present imposed on the Imperial Treasury in providing moneys for carrying on the war, the Government of this country confidently asks all New Zealanders who can afford to do so to assist the Empire by investing freely in these debentures,’’ says the prospectus, "and thus in a measure relieve the Mother Country ot the burden of having to provide the capital required for local purposes in New Zealand.”

It is added that the rate of interest payable is per cent., that application may be made for £5 or any multiple of £5, and for a currency of 5, 10, 15, 20, or 25 years, at the option of the sub; scribers.

Applications for sums not exceeding ,£5,000 must be accompanied by the total subscription or bank receipt for the amount, and applications for sums in excess of .£5,000 must be accompanied by a deposit of xo per cent,, balance payable on allotment. Allotments wifi be made by the Controller and Auditor-General.

Forms of application may he obtained from any Postal moneyorder office, or from the Treasury. Interest will be payable halfyearly, computed from October 15th, 1915, and will be tree of income tax. An annual sinking fund is established to provide for the redemption of the debentures. Applications will close at the Treasury on 6th November, 1915.

Holders of Government debentures issued under the New Zealand Loans Act and maturing on or before the xst December, 1916, will have the option of converting into per cent. 1915 debentures at par if application is made to the Treasury on or before the 30th November, 1915. The interest under the new debenture will take effect after the coupon for the then current half year under the old debenture has been paid.

Persons who now have money deposited in the Post Office Savings Bank may purchase per cent, debentures by means of transfer. They must apply on or before the 6th November. 1915, to the postmaster in charge of any postal money order office within the district in which their account is open in order that the requisite transfer may be made.