AUSTRALIAN LOAN.

Manawatu Herald, Volume XXXIV, Issue 1658, 6 January 1917, Page 2

AUSTRALIAN LOAN.

THE prospectus has been issued of a now Commonwealth War Loan of £26,423,270, being the balance of the authority given to the Treasurer to borrow the sum of £50,000,000. Of this amount £23,576,730 has already been subscribed. The loan is to be utilised by the Commonwealth for Avar purposes /jnly, and will take the form of inscribed stock or Treasury bonds at the option of the subscriber. The conditions of the former loan include exemption from Commonwealth and State stamp duty, and also from Commonwealth and State income tax. A further privilege is how afforded, this being that both bonds and in-

scribed stock will be exempt from the operations of the wealth levy. They will be accepted at par in payment of probate and succession duty due' to the Commonwealth. The bonds will be issued in denominations of £lO, £SO, £IOO, £SOO, aijd £IOOO, and will be payable to beater, or stock will be inscribed in amounts of £IOO, and multiples of £lO, above £IOO. Interest will be paid on June 15 Another difference between the new loan and the former loan is that the instalments have been (ixed on considerably extended terms. They will be payable as follows;—Ten per cent, on application and 10 per cent, on March 1, 1917, and 10 per cent, on each succeeding month until the final payment on November 1, 1917. Interest amounting to £3 15s on each £IOO will be paid on December 15, 1917. If the deposits on all instalments are paid'in full before February 8, 1917, interest amounting to £2 5s on each £IOO subscribed, will be paid on June 1.5, 1917, and afterwards interest will be paid half-yearly at the rate of 41 per cent. ,