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Wairarapa Daily Times, Volume VII, Issue 2030, 1 July 1885, Page 2

Tiie Government Insurance Department, under the guidance of Sir Julius Vogel/, has turned its attention to Btock jobbing. When Mr Caseiberg, tlui Mayor of Masterton, interviewed the chairman of the Board of Directors, lui asked him why Masterton could not get its £IO,OOO loan as cheaply as Piiliuerston North got its .£50,000,. adding that lie thought Masterton could offer qyite ; as good, if hot better, security. In reply it was explained to him that if .Masterton would go in"for a £20,000 loan it would be granted at once, and on the same terms as those given to Palmerston North. . The. reason why only five per cent would lie charged: for the larger loan, was to be found in the fact that .tlie'debentures could be resold or,.discounted in the English market'at' 1 a!" profit, while those of the smaller loan would not be looked at, ' It will, no doubt, be gratifying to the .policyholders to learn that a new source of profit has been opened to them; at the same time we venture to submit that business of this kind is quite foreign to the objects of the Association.