LONG TERM MORTGAGES POPULAR.
BANK OF ZEALAND'S DIS-
CLAIMER. The Bank of New Zealand announces that the amount of its long term mortgage loans tit September SOjth. was £559,277, and that some £150,000 of further loans are in course of arrangement. In connection with the issue by the Treasury some months ago of £400,000 of rural advances bonds, the bank absolutely denies a statement which is in circulation that it issued a circular to its managers reading:—"The manager must not solicit applications for these bonds as the bank is desirous of building up its own fixed deposits, and I do not wish application forms or prospectuses displayed in the office. P.S.— Posters may be exhibited in the bank chamber." On the other hand, states the bank, the instruction issued was as follows: —"Branches will please bring the issue under the,notice of any person who may be seeking an investment. • The bonds would give a Government secured investment with a return (including redemption) of"£s 9s Id per cent. s It is to the interest of the bank that the .loan should be successfully placed.''■' .> ■
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Shannon News, 23 October 1928, Page 2
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183LONG TERM MORTGAGES POPULAR. Shannon News, 23 October 1928, Page 2
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