WAR LOAN.

Taihape Daily Times, Issue 160, 10 August 1916, Page 5

WAR LOAN.

New Zealand Government 44 per cent. War Bonds (xwee of New Zealand Income Tax) Issue of £8,000,000 THE GOVERNMENT Hereby invites the public of New Zealand to subscribe £8,000,000, authorized to be raised under the Finance Act, 1916, and pursuant to the New Zealand Loans Act, 1908, as amended by the New Zealand Loans Amendment Act. 19.15, for the purpose of carrying on the-pre-sent war. The loan is by Act of Parliament, made a charge on the consolidated revenue cf the Dominion. WAR BONDS will be issued on the following terms: Price of issue .. Par Rate of interest .. 44 per cent FREE OF INCOME TAX Term of loan .. 14 years or 25 years No bond will be issued for less than £SO, but small investors may subscribe sums of £1 up to £SO at the Post Office. INTEREST WILL BE PAID HALF,. YEARLY AT THE TREASURY, WELLINGTON, OR AT ANY BRANCH OP THE BANK OF NEW ZEALAND, OR IN LONDON OR AUSTRALIA AS MAY BE ARRANGED ON Ist MARCH AND Ist SEPTEMBER IN EACH YEAR. The first Coupon, representing interest accrued upon the various instalments, from the date upon which they severally become payable, up to 28th February, 1917, will be paid on Ist March, 1917. Interest on the deposit will date from the Ist,.September, 1916. ■ LODGMENTS. —Forms of application may be obtained and lodgments made at any Postal Money-order Office, at any Bank, or at the Treasury Offices; Wellington. ‘ ’ ■ i Instalments may be prepaid if desired, but the prepayment of any instalment will not entitle the subscriber to interest, in respect of the first coupon, in addition to that provided above. Lodgments will be made as follows: 25 per cent deposit to accompany application; 25 per cent, 2nd October, 1916; 25 per cent, Ist December, 1916; 25 per cent, Ist February, 1917. The Minister of Finance reserves the rigjht to accept the whole or any part-of amount applied for, or to decline any application. Should the total applied for exceed the amount of £8,000,000, the Minister of Finance reserves the rig-ht to accept such excess or any part thereof. The Controller and Auditor-General will make the allotment, if such is necessary. In case of acceptance of part only of amount applied for, the surplus of the amount paid as deposit will be appro-

riated towards the payment of subsequent instalments. Interest will not be paid in respect of amounts which are not accepted. In case of default iii payment of any instalment at its due date, the deposit and instalments previously paid will be liable to forfeiture. Interim receipts will be issued for lodgments 'and must be retained and presented in exchange for War Bonds when ready for issue. Bonds payable to bearer, Avith coupons attached, will be issued after the full subscription has been paid, in denominations of £SO, £IOO, £SOO, £IOOO, or such higher denominations as may be arranged, and will be repayable at par in New Zealand at date ot maturity. The Bonds are Government securities in Avhich trustees are authorised to invest trust funds.

An annual sinking fund is provided for the repayment of the Loan. Applications will close on 21s(j August, 1916, but the Minister of Finance reserves the right to close at al prior date, or to extend the perioflr, JOSEPH GEORGE WARD, Minister of Finance. Treasury, Wellington, N.Z., sth August, 1916.