MOTHER COUNTRY.

Taranaki Daily News, 21 February 1917, Page 5

MOTHER COUNTRY.

VICTORY WAR LOAN. STATEMENT BY MR. BONAR LAW. RESULT EXCEEDS EXPECTATION. 700 MILLIONS OF NEW MONEY. London, Feb. 10. It is generally anticipated that the loan will result in the subscription of GOO millions of new money. lb is understood that this will be regarded as satisfactory. Mr. Bonar Law, in the House of Commons, said the loan 'had drawn new money to the extent of at least 700 millions, without the banks' contributions. Received Feb. 20, 6.30 p.m. London, Feb. 10. In the House of Commons, Mr. Bonar Law said the number of loan applications received on Friday was so large that, although the officials were working night and day, they had been unable to deal with from 200,000 to .100,000, and applications were still pouring in from all parts of the country. It would be impossible to give detailed figures until next week, 'Sut he was able to say that the loan had succeeded to a greater extent than was hoped or expected. He did not wish to encourage exaggeration , and thereby create a danger of the country's amazing financial effort being minimised, but, he added, "when I met the . financial and banking representatives I 'told them I considered six hundred millions of new money waß necessary to ensure success, but I doubted tie possibility of reaching that figure. lam glad to announce that, without further direct contributions from the banks, which is undesirable, the figure has been actually exceeded by a hundred million."