FINANCING A NAVY.
THE COMMONWEALTH'S PROPOSALS. P/ Cable.—Press Association.—Copyright Melbourne, December ''. The Naval Loan Bill has been introduced in the Federal House. The Bill provides for money being raised by inscribed stock at not more than 3 l / s per cent. Power is reserved to raise Miy part of the money by 3y 3 per cent. Treasury bonds. These may be exchanged for inscribed stock or redeemed out of money raised by its issue of stock, Inscribed stock is made redeemable at par. Provision is made for a sinking fund of 4 per cent. The fund starts in July 1912. The moneys raised are to be. appropriated for the initial cost of tie fleet unit.
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Taranaki Daily News, Volume LII, Issue 254, 2 December 1909, Page 2
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115FINANCING A NAVY. Taranaki Daily News, Volume LII, Issue 254, 2 December 1909, Page 2
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