EVERYONE A CAPITALIST!

Taranaki Daily News, 24 June 1921, Page 6

EVERYONE A CAPITALIST!

FINANCIAL EVOLUTION. If everyone were a capitalist, the differences between "capital” and "labor” would be largely dissolved. This evolution id steadily proceeding in New Zealand, for -thousands of people have lately, for the first lime, invested their money in Dominion trading concerns. A NEW NOTE. Commenting on thia fact, the financial critic of a leading journal states: “A new note has been struck by the co-operative associations doing business in the Dominion. To these virile and solid corporations belongs the credit for introducing on z a large scale the issue of bonds, bearing a high rate of interest, upon terms, giving the great body of di lent thrifty people in this country opportunities which the present financial stringency has made possible. “By boldly facing these matters, and challenging the owners of saved money to invest in these novel proposals, it has been found that capital is not so coy as most people imagine. As these lines are being written the co-operative concerns have secured over half-a-million pounds sterling on precisely the same lines which the Hawke’s Bay Farmers’ Cooperative Association, Ltd., have adopted. HAWKE’S BAY 8 PER CENT. “The only real difference between this Association and the others, is to be found in the rate of interest offered to investors, and the Hawke’s Bay Association proffers a clear eight per cent, to everyone who would become a bondholder in their company. Then again, the totajl amount which this Association is Asking for cornea to but £150,000, as '.against the owned capital, reserves ahd assets of the Association. The paid-up capital at the end of March, 1921, amounted to £102,175. The uncalled capital due in respect of a section of the shareholders who have not fully paid for their shares comes to £91,070 —while the reserves and undivided profits of the Association at the Game date makes up the large sum of £*76,742. Adding all the foregoing amounts together, a grand total of £329,987 i’s arrived at. That sum is surely a .very fine security in itself upon which 4b base a small bond issue of only £ 150,000.” OPPORTUNITY FOR ALL. It should, however, be. pointed out that only £75,000 of Bonds—from the issue, of £lso,ooo—are now offered for application. They are in denominations of £25, £5O, and £lOO. Interest at the ratp of 8 per cent, per annum will be paid half-yearly free of income tax. The Directors of the Hawke’s Bay Association are:—Major-General Sir Andrew Russell, K.C.8., K.C.M.G. (Chairman), Messrs. E. C. Clarkson, W. A. X. Couper, H. Gaecoyne, W. H. GuthrieSmith, J. W. Harding, Arch. McLean, L. McKay, R. D. McLean and R. H. Tod. Applications are coming in freely every day, therefore readers who wish to earn 8 per cent, for their capital should secure a prospectus at once. Apply at the Union Bank of Australia, Ltd., any member of the Stock Exchange, or the Office of the Company, Napier, and Branches.