NAVAL LOAN BILL.
COMMONWEALTH PROPOSALS. HOW THE MONEY IS TO BE RAISED. United Press Association—Electric Telegraph Copyright. Receive:) December 1, 11 a.m. MELBOURNE, December 1. ;;£,The Commonwealth Naval Bill has been introduced. It provides that the money shall be raised by inscribed stock at not rnoi'e than 3j| per cent. The power is reserved to raise any part of the money by 3| per cent. Treasury honda. These may be exchanged for inscribed or redeemed out of the money raised by the issue oAhe stock Ihe inscribed stock will be made redeemable. Provision will be made for a sinking fund of 4 per cent. The fund starts in July, 1912. The moneys raised are to be appropriated for the initial cost of the fleet unit.
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https://paperspast.natlib.govt.nz/newspapers/WAG19091202.2.23
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Wairarapa Age, Volume XXXII, Issue 9665, 2 December 1909, Page 5
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125NAVAL LOAN BILL. Wairarapa Age, Volume XXXII, Issue 9665, 2 December 1909, Page 5
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