THE LIBERTY LOAN.

Taranaki Daily News, 4 September 1917, Page 5

THE LIBERTY LOAN.

AN UNQUALIFIED SUCCESS. NEARLY £ Hi,000,000 ALREADY i: SUBSORIBISD. £ ''•A; • ' S OT'E SPIRIT OF THE PEOEJ#!. ; a ; • r By Telegraph.—Press Association.; ■; J, i«! 'vMniinjton,'Last Night.;. i Tho period for" sub-, c nt'i'i])t,ions to tho Liberty War Loan £ closed 1 to'da'v, 'itnd the Minister of Fiji-, ance '\vas"able to announce to-night that i tho loan had been heavily over- 1 subscribed.' - I Tho Government asked fpr twelve * million as a first instalment of the i twenty-two million estimated to be re- ] quired for war purposes during the cur- i rent financial year. The amount receiv- i ed up to this evening was over i £15,800,000. i Sir Joseph Ward informed a reporter | that the figures were not final. Some ' returns were still to be received, and ho had reason to believe that the final total would exceed that amount by a very ' large sum. He mentioned he was aware 1 that some people had not been able to complete their subscriptions in the short time allowed, and there wero other contributors, including companies, friendly societies, and trustees, who had to wait for powers being given by the Finance BiU at present before Parliament. Ho felt entitled to regard tho loan as'an unqualified success. The 'loan had been on the market for about three weeks, added tho Minister. Some people had thought the time was too short, but the result showed what the community could accomplish 'when it set to work in real earnest to meet a national call. A very fine, spirit had been displayed 1 throughout tho Dominion, and he wished to thank warmly, on behalf of the Government, all those who had assisted publicly and privately to make tho loan a success. The last loan closed on August 20, 1910, and that also had been oversubscribed. Within a period of a little over twelve months the people of New Zealand hr.d provided over 30 million for war purposes, this total including a proportion of money provided for puliiic purposes through the medium of the post office savings bank, and this effort was simply magnificent. Sir Joseph Ward added that althon.uli the period allowed 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 tiiat point later. AUCKLAND OVER TWO MILLIONS. Auckland, Last Night. The Auckland total for the war loan, so far as compiled, is over two millions, with several subscriptions to come in. The amounts passed through the banks amounted, approximately, to a million, and through the post office, £.1,12.000. Large subscriptions to-day were: New Zealand nnd South British Insurants ' Companies each £100.00!). There are not included in the total. DUNEDIN'S CONTRIBUTION'S. •Dunedin, Last Night. 1 The following local applications for ' participating in tho war loan were made ' to-day:—Perpetual Trustees Estate and : Agency Co., £26.350; Dunedin Savings ' Bank, £20,000; Ivanhoe Druida Lodge, ' £500; Clias. (Begg and Co., Ltd., £lO,- ' 000; United Otago 'District Foresters, ' £2000 ; Victoria Insurance-Co., £10,000; R. Hudson and Co., £15,000; Thomson and Co., £SOOO. FURTHER CONTRIBUTIONS. i Tho total amount contrilnjted by tsnPalmerston iP.O. in war certificates was £IB.BBO, and war bonds* £172,380. The warloan business at the Gisbornc post office amounted to £02,000. the total for Poverty Bay being £294,000. The Wanganui post office reports subscriptions to the war loan amount to £102.760. Napier banks have obtained £410,000, the Napier post oflice £50,167, and other r post offices £92.285. : NEW [PLYMOUTH POST OFFICE ; INVESTMENTS. f 1 APPROXIMATE £170,000.

The investments at the New Plymouth post tifiice yesterday amounted to about £30,000, and those in the district offices to £60,000.. with authorities issued but yet to come in representing another £SOOO. The total applications at Ihe chief office amounted to approximately £71,000. and at the district offices £IOO,OOO. making a grand Ijotal of (about) £171,000 for the New Plymouth postal district. The officials at the chief post office yesterday wore kept busily going throughout the day, and by every possible means endeavored to ensure that no R'ould-bo investors were disappointed. To this end thoy remained at work considerably over the prescribed time, and for the'courtesy and consideration thus extended to belated investors they deserve the warmest praise. The chief postma steij, the chief clerk, and all the oiFiecrs are to be congratulated on the. excellence of the new work, and especially on their courtesy in dealing with such extensive and important operations. The Taranaki .TV.ckey Club has taken £SOO in inscribed stock in the war loan. The Harbor Board Sinking Fund Trustees have invested £3OOO in the war loan, and the Investment and Loan So-, ciety and the Sash and Door Company £3OO each. The amount put through the Now Plymouth banks up to the clos<? of yesterday's business totalled £31,530. The Napier Park Club has invested £SOOO in tlie •war loan. The shareholders of the Ivaupokonui Dairy Company, at the annual meeting yesterday, subscribed £12,760 to the war loan.

EAUiPOKONUI'S HNE EXAMHJi. >; £12,750 SUBSCRIBED' 'AT TUB MEETING, The shareholders at the animal attdS* ing of the Kaupokonui Daii-y Compajjjf, yesterday decided to invest one peinsy; of thoir bonus in war certificates pay- 1 able in five years. This means the find • Mijri of £BBOO, and« in: taction, kea?lyi another £4OOO W&3 subscribed in tJi(5 / room, making tho total snbscribedl fry: the company £12,i00 at the 'meeting., Nearly ail in the room had subscribed! lurssly previously, 'Mr. J. Mauri tewing i invested £I2OO, which he further increased by' £S6o, The chairman scribed £ICksO, anil' Mr. Gamlin £SOO. The chairman' (Mr. W. iD. PoWdroll)! introduced the matter by moving Witlt , tho adoption of the report that Id of thd bonus be invested in ■war certificates, which will be given to suppliers proportionately to the milk supplied in 1910-17. He pointed out that they !had receive'! a windfall of £14,000 or £15,000 in tho extra price received for their cheese shipped Homo before January, and Jid asked the shareholders to do something generous. They were not asked to givq ' but to lend their money to the Governs ment. A penny would mean an averagd of £35 to each of the 242 suppliers. Kaupokonui was noted for its patriotism* Thev had given the lead when the war broke out by contributing £7OO to the Belgian fund, and last year had placed £4OOO of their reserve in The majority of the directors had al'i . ready subscribed heavily, but lie had come prepared to give the lead, and ha thought suppliers would recognise it 'was tlieir duty to help. If they asked them« selves had they done their duty in cow, ■ ncction with the war, he thought theri was not a man present wlio would saj tViat lie had done his duty in eompariaoß with the men who were fighting foi them. No sacrifice they could maks would equal that of the men who had been killed and wounded, and of the men who had gone to the war when they wew just starling life, and every pound saved meant many pounds in after life; men 1 who were giving the best years of then life ; years that would never bo made, up. He stressed what England had done f<H 1 them in buying their produce and en* abling them to receive 8d or 9d more pel ' lb of t butter-fat than before the war, and ■ takin;: tho risk of insurance and loss. At present the war was costing England J seven million per day. Every fit man. ! had to go to tho Avar, even if he had. two, three, or four children. In New ' Zealand we did' not know that we were .. ' at war. Some people said they could pot afford to lend, as they were hard up, but if they waited till they got out of debt they would never he able to ' assist. He appealed to all xo assist, and said what a comfort it would be to the boys at the front to know that those at home were prepared to do their bit without being compelled, because if they did not lend they would have to give by way ' of taxation. Men, money, produce, and -' '' the best brains were required to win , the war. He pointed out that if they , 3 agreed to the proposal, and later needed assistance, tho banks would - finance against tho bonds. Thoy .would only , g lose a little interest. In fact, if neces- „ j. sary, tho company would lend on the bonds, or would buy them at about 7S per cent., though they did not want tp do so. He hoped the resolution would be carried unanimously. A supplier asked whether, the share* r milker would agree to this. ' , , The chairman stated that tho share* j milker and his family had done ft grcttf s deal for the industry, They had been » ( hard hit by the war antl had sent their sons. They 'would see the justice and would willingly help. The chairman . • also urged all to encourage their chilli dren to transfer any money they might have in tho post offico to the War loan, Mr. Long, in seconding, stated that he did not think the share-milker would ofy joc-t. In any case, the supplier could t- take up the bonds and pay the share* s milker in cash. He did not think the proposal would hurt anyone. He had' al* e read*/ invested, and so llad his chiloron< c but he would increase the amount. M.r T. McPhillips said they had had 9 very prosperous year, and he did not- . o think thev would do too much if they . decided to invest tho £ 15,000 which W \ looked upon as ft windfall, and this in* r vestment could bo regarded as an. in*; surancc against a rainy day. . , Mr. Dunn, president of the Farmers'Union, said that no one could say thai we were too liberal with pur pay to returned disabled men, nor were soldiers' dependents given a living wage, The war loan-would help to increase this, 'and none should refuse to subscribe. He thought that if anyone did not oontri- , ■bute, it was not because ,hc could noi •- afford it, but because he wished to have o the money in hand after the war fut ; rt any mora profitable investment thai i- Blight eomo along. g Messrs Le Flemings and Bridge ex* is pressed hearty sympathy with the pro*' i- posal, tho latter stating he would atafl f- subscribe heavily to tho loan. >f After further discussion in a qbnfltf > h strain, the resolution was unanimously - carried. f '0 The'secretary was then kept busy tak* g ing 33 additional a 1 *! 1 * 11111 *! varying from 5- £SO to £IOO, from suppliers iu th<f » room.