5½ PER CENT. DEBENTURE ISSUE

Timaru Herald, Volume XCVIII, 13 May 1925, Page 11

5½ PER CENT. DEBENTURE ISSUE

BY CHRISTCHURCH DRAINAGE

BOARD

SECOND INSTALMENT OE £50,000,

Prompt application is necessary in order to participate in this muchfavoured form of gilt-edged investment. In pursuance of powers conferred upon it by tho Local Bodies Loans Act, 1013, and the Christchurch District Drainage Act, 1907, the Christchurch Drainage Board is inviting application for debentures in denominations of £IOO £•500, and £IOOO. Price of issue at par. Payment of interest in full, without deduction of any sort, will be made on the 31st March, and the 30th September of each year. Interest is calculated from the date of receipt of application money. The debentures aye secured by a special rate of id in the £ on the capital value on an area valued at £13,500,000. They will always be readily negotiable. Exchango will be paid by the Board on all accepted application money. x rincipal and interest will also bo payable, free of exchange, at any branch of tho Bank of New Zealand within the Dominion. Brokerage of 10s per cent, will he jiaid to registered sharebrokers, and to I, inks doing business in the Dominion. Prompt application should be made to the secretary of tho Christchurch Drainage- Board, 198 Hereford Street, Christchnrcli. Copies of prospectus will bo mailed on request, or may bo obtained from any registered sharebroker or bank. ..<