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Westport Times, Volume VII, Issue 1064, 18 April 1873, Page 2

Following hard upon the intimation that the New Zealand Government would invite tenders for another quarter million loan, under the powers conferred by the Immigration and Public Works Act and the Defence and Other Purposes Loan Act. the terms upon which debentures will be issued have been made public. Briefly summarised the terms are these:— Debentures will be issued in sums of not less than one hundred pounds, secured on the Consolidated .Revenue of the colony, and bearing interest at 4 per cent, per annum : the principal beiDg repayable on the 15th April,

1913, at the option of holders of debentures, giving six months) rteyious notice. Tenders will bo opened on the 9th of May next, and 5 per cent, of the amount tendered for must accompany applications, and the sums must be paid either on or before the the 16th May, or purchasers may have the option of paying the purchase money by four monthly instalments with accrued interest. Purchasers paying the entire purchase money within a week from the opening of .the tenders will be entitled to interest as from the 15th April. Brokers effecting sales will receive half per cent, brokerage, and applications by telegram will be received up to 10 a.m. on the 9th proximo, provided such applications are accompanied by a telegram from the manager of any branch or agency of the Bank of New Zealand certifying that the necessary deposit has been paid. Upon these terms New Zealand capitalists are invited to assist in staving off the evil hour when public funds shall have been all expended and public credit exhausted. At least so aver those who see no brighter future for New Zealand. On the other hand the Government and its supporters,, pleading that the present loan is needed mainly to meet debentures now falling due, declare also that the colony has ample power to meet all present or prospective fiscal engagements, and that the present abundance of money in the colony while bearing evidence of this likewise ensures the reception of this quarter million loan by capitalists upon favorable terms.