THE WAR LOAN.

Taranaki Daily News, 1 September 1917, Page 5

THE WAR LOAN.

APPROACHING TUPLE MILLIONS. By Telegraph.—Press Association. Wellington, Last Night. Reports with reference to the War Loan still continue to be encouraging. The amount now known in Wellington is £2,885,000, and it will not be until the close of to-day's business that the receipts at the smaller country offices, which serve a large number of moneyed men, will be known. The demand for war loan certificates is so large that a further issue will have to be printed. There seems to be a mistaken idea abroad that. Post Office 5 per cent, war bonds cannot be purchased by anyone who is a payer of income-tax. Thi s is entirely wrong. ' Post Office- 15 per cent, war bonds can 1 be purchased by any person or society whatever, so long as the amount obtained does not exceed £50!) for each person or society. At present the Post Office takes the custody of war loan certificates without charge, but as soon as the necessary safes, which has been ordered by cable from England', reach New Zealand, it is proposed to establish in all the larger centres a safe deposit system, which will enable the Post Office to also take custody of Treasury bonds or Post Office bonds. This system will also extend to valuable documents such as deeds, wills, mortgage deeds, etc., and a small annual fee will be charged according to the size of thu package, with access at certain stated times. Another large Wellington Company has decided to invest £25.000 of its funds in the War Loan. The Public Service Superannuation 'Board at its meeting this afternoon decided to invest £IO,OOO in the loan. This represents all the uninvested capital at present in the board's hands. Among individual contributions to the loan may be mentioned one of £12,000 in Auckland, one of £SOOO and another of £2OOO in Christchurch, al.-o £IOOO at Manaia, and another £IOOO at Hawera. The,'public who wish to convert war loan certificates into post office war bonds are requested to defer making applications until after the close of the loan. The date of conversion will not in any way affect the interest payable, as they v. ill be allowed the present value of war loan certificates up to the day on which the Post Office bonds are issued.