8 PER CENT. DEPOSITS.

Taranaki Daily News, 4 July 1921, Page 4

8 PER CENT. DEPOSITS.

A TARANAKI INVESTMENT. Just now various financial institutions are seeking capital and offering attractive rates of interest. The Farmers Cooperative Organisation Society of New Zealand, Ltd., whose headquarters are at Hawera, and whose branches are established in every town of the province, have decided to offer the public an opportunity of investing this money m their own province. This will be by means of fixed deposits at 8 per cent, for periods of from three to five years. The Moratorium is specially included, so that at the end of the period for which it is deposited the money will be .available. Interest will be payable halfyearly.

The Society will use the money to nuet the need of farmers, and generally to develop the resources of t’*e province. It will be absolutely safe, backed as it is by the subscribed capital of shareholders of the society, which amounts to £262,610, of which £116,062 is paid up. Besides the society’s capital and general assets is the solidity of Taranaki itself. There is no part of New Zealand to-day as sound as Taranaki, with its wonderful fertility, regular rainfall, and favorable climate, expressed in its tremendous exports—£Bo. per head of population for the past two years —as against the average for the Dominion of £4O.

There is no possibility of the bottom falling out of Taranaki, for its butter and cheese will always be wanted, and command a payable price. Every year sees an improvement in the -herds of Taranaki, and now, with cheap manures being again available, the farms will be steadily improved and bfdome more productive, factors that will act as a complete set-off to any decrease in prices that may occur. The board of directors are prominent men of the province, known to most of the public. They have no hesitation in thoroughly recommending this investment, which has many advantages over other outside capital issues that have lately been on the market. They feel that there is work for capital to do in Taranaki, and that is no need to send it outside . So they have provided this opportunity. The rate is attractive and the security undoubted. The money may be deposited at any of the society’s branches free of exchange. Those desirous of securing further information are invited to interview the directors, particularly the chairman (Mr. Alex. Hunter, of Hawera), the ; vice-chairman (Mr. B. C. Lysaght, Mokoia), or the general manager (Mr. T. iTajlor).