Page 6 Advertisements Column 2

Taranaki Daily News, 20 May 1921, Page 6

Leading Newspapers Endorse The Farmers'” 71t Bond Issue | *| Read these Quotations- | ' | : The course which has been adopted in - J • , TT , f i.. Zealand Farmers Co-opera-i the issuing of such bonds is a novel one : t/WV gWS VOU the PaCtS i I ! lve A , SSoClat ?° n of Canterbury, Limited, I i for a trading company in New Zealand, i JUU MIL i ; is, perhaps, the most successful and virde j : though it has British precedents. New i a. °i i •£ z. j°* I^s^tu^ lon , s which have grown frojn : ; capital might have been called up from lOU HIUSt HCt quickly if yOU WHIlt small beginnings, to being the largest, : the shareholders, but then it must have ; share in this 7~ DPT CPllt Bond ■’ n ’ com P r . e “ ens i ve j n operations, in : > been drawn, to a great extent, from the ; J" 1 ? ’ ’ • i h , e Association has : ; class which it is desired to relieve. The ■ iSSUC. Get the IHCtS UIIG yOU Will DC taken upon itself the nature of an Agribonds being of small denominations, very • Convinced ‘ cultural Bank, realising that it is in the ■ j modest capitalists can help in providing j ‘ • “ es > ; interests of the country that pro- ■ : assistance for the industries on which all i Rnndo > ducers should have assistance to enable i : depend. In aiding the farmers, those by LODCIS are ijeai Cf JJOndS, With : them to tide over the time between des- i ; whom bonds are acquired will be throw- :' Interest COUDOUS attached. patch of commodities and the receipt of ! '■ ing up entrenchments for themselves ; • payment. The demand for such assist- : ; against the possibilities of financial stress; i Fasilv franqfprahl A lilrp hanlrnntps : anc P iss ° B reat has ; ; and the opportunity of self-help which ; JidSliy lianSieraDie 11KC DanKnOteS. , decided to issue, bonds, backed by the ; gives interest at per cent., free of in- ; T , , . . a£ . . ; security its immense business offers, paycome tax, in addition to its general ad- • IfltCrCSi payable halt-yearly, at the P^ r cent, interest, free, of income ■ vantages, is not one that happens every i rate of 7h OCT Cent ner annum free / taX ' • ’ S . not P erl “ anent capital that is . • day. i ,5 2 JZ 1 cent, pel annum, tree . required, therefore the money is not being ; ;Ol IllCOHie Tax. raised by thfi issue of shares. The : „ n . . „ •»/ i I desire is merely to tide farmers over the ’ j nonunion Wellington : The N Farmers ’ Co . op Assn of present depression, and short dated i ; One of the largest Farmers’ Co-opera- j r • • j • i ' i ■ * Jonc ' s > payable in five or ten years, and i : five Companies in the Dominion is the : Canterbury Limited is the largest : which are exchangeable with the same i : pioneer in this movement, and no doubt onncpm of ife L-iorl in i-liA Tlo.nioioti facility as a bank note, are the means : : the terms on which the bonds are to be i K mU 111 me UOminiOll. ; se | eete( j to tide producers through the i : issued will be found attractive enough to TToP kl’ V. .1 /iO ■' trouble which has rather unexpectedly : : a great many people to ensure an active L-StaullSHeu 41) years ago. ; overtaken them. : demand. What is of most interest, how- ; • : i ever, as a matter of public policy, is that i It has 15 Branches and 7 Agencies. i “ Free Lance ” Wellington : ' i • the money is to be used to finance the • • ’ . . • : primary producers of the Dominion. It i Annuel 4-iirnoxzar- nxrar PNra. ■ rea > trouble with the farmer at , i has been said so often that the interests ; , turnover, OVCf Five | the present time is not that he is poor ; : of New Zealand centre in the welfare of : Millions. : °F J l } a bad way, for his securities are all j i its primary producers that it amounts I • i rl ght, but that he has very little ready i ; almost to tedious repetition to again refer i SeciirifV Slinnnrf'inD' fhp Rnnd Issue i money ivit«t which to carry ,on as the i ! to the matter. But the present is a time i OCCUriCy Supporting tne BOHQ ISSUC : result of the banks and big farmers’ j i when the truth ,of this old saying is i amounts tO OVCf One-and-a-half i agencies shortening their advances, i : coming home to people with some force, ; Mil linns ; Everybody knows that the shortage is i : and the financing of the farmer until i IVLHIIonS. , only a temporary one but even in a .tem- i ■ the world’s markets once more reopen to i T'ti j- i • i • P 01 ’ ar y shortage much harm may be done j him on a satisfactory basis is recognised ; Full particulars 1U PrOSpeCtUS, OD- i to our primary industries unless some- : to be a matter which concerns us all. tamable’ from the Bank of New > AssoS i - Zealand, members of the Stock Ex- i tion of Canterbury has faced the position Mercantile hazette of N.Z. ; , , , . . , : in a self-reliant spirit, and evolved a The bonds are in bearer form, and have ; Cnange, Of tFOm tne Association S j scheme which, from the investors’ point : interest coupons attached. The rate is ; Head Office Or Branches. i v * ew > > s ol l>y attractive but abso- ; 7J per cent, free of income tax, and is ; ! lutely sound. i payable half-yearly. This is the most : Rnnds mAV ni'rrh'KPh at- fhp ; tempting offer that has been made to j DOIIUS may De purcnaSCQ at tfle ; “ Sun” Christchurch: j the investors since the price of money i Same addresses aS above. r i Farming in Canterbury is still a profit- • i advanced, and no doubt the issue. will be ; ; able occupation> and the famel . who ; ; readily taken up The institution has : Over S Rprpiwprl in Waalth! knows his business and attcnS\> it has ’ : made an issue of £5OO 000, but is only : IUCCIVea Itt Z a WeCKS! ; very little to fear But if frotn cause ; : asking for £2.10,000 at the present Stage. , ; fl nane j a i SU pp or t were withdrawn from ; i Provided there is ample, security behind , , A ‘ or refused men who need it at the present ' ; an issue of bonds, the investment is a A V f i time, they would be sold up and the effect ; : sound one. AX here the amount of the ■ ; wou |d R e ver y speedily felt throughout i bond issue is a considerable one, and ; and aSSlire high eaniingS fot yOUt i the entire community. Every worker, ! • the sum total of the capital of the com- ; SlimhlS SHvine's • reta^er professional man is directly i • : pany is limited the proposal might not : bUip.Ub bdVm o S. , interested in the solvency and prosperity i : be strand. Tn the present instance there j■ ■; o f the farmer, who has carried the thick : ; is capital, uncalled capital, and ; , ; gnd of the sti( , k • ht through the War> i KT—'ll i APPLICATION FOR BONDS I “ d “ w " l i • be ample margin. The bonds are not j •...._•. : ; secured by any specific charge on the j ‘Che ‘Directors, j “/VZ Times ” Wellington ■ assets of the company, but. are really m : r > r- Wellington. i the form of a “naked” debenture—a new i N.Z.. rarmers Co-operative Association of Canterbury i There can be no doubt that the money i i departure in company finance in this i Limited, i is required for the best of all purposes, ; i country. From the investor’s point, of i CHR'STCPnl n CH 1 which is the financing of the producing : i view, they rank in priority, in the case ; ; . j nterest o f tbe country through a period ; ■ of a winding-up, to either ordinary o ■ : Kindlu allot Randi nf J? : of unexpected emergency. If the interest ; i preferred capital, but they fare no better ; . us oonas oj , ; s ] dgb) tbe occas j on warrants the pay- ; ; or no worse than the ordinary creditor. : each, having a currency ofyears, in i ment of the rate offered, and on this j : '' ' rr> , I ’ : P o ’ ll *- *ke directors are well satisfied. We I i i terms of I rcspectus dated April, 1921. enclose i hear much of the scarcity of money, but ; i “Lyttelton Times,” Christchurch : ; ehpnne fnr -P ■ f al < ul i I \ given a sufficiently attractive rate of in- i I It may be deduced that' the very i 97 ' m f' r ‘ seltlement - Wc i terest, there is still plenty of money inNew = i attractive rate of interest offered is ren- : agree to pay the balance monthly in three instalments of i ea ' a ” c l,. ava j, la ¥ e f °r investment. The ; s defed possible by the fact that the asso- - r j > Post Office Savings Bank alone, accord- ; i r.iation will escape income taxation, s' ; * — each ' ; ing to the latest returns, holds over fqrty i : Bs. 9d. in the £, on that part of its profits ; p u ll Name i millions, sterling, and the question put to : : which will be paid in interest to boiui- i ' 1 :' man y of the depositors by these debenture ; i holders, and will merely have to pay tl/r i OccinM/ion . i proposals is whether ft would not be good : ; flat rate “debenture tax*’ of 3s. in. the £. ■ ’ ; b us i ness f 0 use some o f this idle money : • This, no doubt, explains why th ' ?-.sGcia- • Address • ie financing of the farmers of Can- ■ j tion feels justified in offering f j j terbury, and, at the same time, enable ■ • of bonds such a high rate of interest. * • earn 74 per cent., free of income • - • tax, for the owner. •. : Usual Signature [ : The N.Z. Farmers’ Co-op. Association of Canterbury, Ltd., Christchurch.

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