THE WAR LOAN

Taihape Daily Times, Issue 220, 4 September 1917, Page 5

THE WAR LOAN

HEAVILY .OVER SUBSCRIBED. BRILLIANT FINANCIAL. SUCCESS. i SIXTEEN MILLIONS SUBSCRIBED. WELLINGTON, Sept. 4. The period lixed originally for subscriptions to the Liberty War Loan closed to-dav and t-he Minister of Finance was able to announce ■ tonight that the loan had been heavily over-subscribed. The Government asked for 12 millions, as a first instab ment of the 22 millions estimated to be required for war purposes during the current financial year. The

amount received up to this evening was over £15,800,000. Sir Joseph Ward informed a reporter that th» figures were not final. Some returns had still to be received, and be had reason to believe that the final total would exceed the very large sum he had mentioned. He was awmre that some people had not been able to complete their subscriptions in the short time allowed and there were other contributors including companies, friendly societies, and trustees—who had to wait for the powers being given by the Finance Bill at present before the House. He felt entitled to regard the loan as ag unqualified success. The loan had

been on the market about three weeks (added the Minister. Some people considered the time too short but The result showed what the community could accomplish when it set to work in earnest to meet a national call. A very fine spirit had been displayed throughout the Dominion, and he wished to thank warmly, on behalf of the Government, all those who assisted publicly and privately to make the loan a success. The last loan closed on August 20th, 1916, and had been over-subscribed. Within the period of a little over twelve months the people of New Zealand had provided over 30 millons for war purposes. This effort was simply magnificent. Sir Joseph Ward added that although the period alowed for subscriptions to the Liberty Loan had expired, the Treasury would still accept sums that had been delayed for any reason. He would make a further announcement on that point later.