THE NEW LOAN.

Taranaki Daily News, 3 June 1920, Page 4

THE NEW LOAN.

TWO MILLIONS REQUIRED.' A LARGER LOAN LATER. By Teleeraph—Press Asaool&U/m, Wellington, Last Night. "The Government is making, arrangements," stated Mr. Massey to-night, Tto givo investors an opportunity of taking up New Zealand debentures at S per cant, at par for a term of ten years. The loan will take tl)e.form either of Inscribed stock or bearer bonds at tit* option of the subscriber. "Nominally this is a loan of £2,000,000, and the money is required for pub(ic works only. The loan is also intended for the purpose of encouraging national thrift, and of encouraging the Mew Zealand people to hub their funds fnr the development of their own country. v '"This sum of £2,000,000' to"not 'all that we shall require during the present year, as it is practically certain that another loan of a considerably larger amount will be placed locally in five or sit months' time. It may be noted that the interest is at the rate of ii per cent, whereas the rate on nil war loans was <M: per cent., hut on the other hand the mil rest on this loan is not free of income tax. "The security is undeniable, and T hope that a considerable amount will bo subscribed. Applications for amounts from £SO upwards will be accepted, and the bunk? and registered slmrebrokers erj to be allowed commission at the rate of 5s per £100."