VICTORY LOAN

Ashburton Guardian, Volume 65, Issue 194, 30 May 1945, Page 4

VICTORY LOAN

FIXING DISTRICT QUOTAS. EXPLANATION OF METHOD. RIVALRY FOR FIRST PLACE (P.A.) WELLINGTON, May 29. “Twenty district loan committees are engaged in healthy rivalry for first place in the final of the 1945 Victory Loan contest. It is a handicap race in which all districts have a fair chance. The varying resources of each district * are taken into account in fixing their quotas, so that if the smallest district achieves its target ahead of an area from which millions are expected, full credit must be awarded,” says the National War Loan Council. “After considerable experience of war loan raising, a system of fixing a quota has been devised, with the unanimous approval of the districts, which represents a fair assessment of what each ought to contribute. An allocation purely on the basis of the number of householders was tried, but it was soon realised that other factors must be taken into account if the target to be set was to be within reasonable range. The whole £25,000,000 of the loan has been apportioned between the 20 districts, each having an objective which has been calculated by taking as the basis a figure which is half the difference between last year’s quota and tlie amount actually collected, each quota being then brought into line with the lessened total of the present loan. “The larger centres are not given any special advantage from the investments of national institutions which have their headquarters in those places. .Some -firms spread their loan credits over specified districts in which they do business, but in the absence of directions from this type of investor the War Loan Council distributes the credit equitably among the 20 districts on the basis of their objectives. National savings investments are dealt with similarly, and included in the day to day figures. Daily returns from headquarters show how the people of the 20 districts are facing their Victory Loan responsibility. With £15,000,000 less to be raised this year, all the districts should reach their quotas, and it would save a tremendous amount of campaign effort made without reward by members of the district loan committees, if investors made up their minds to finish the job this week.” - DOMINION FIGURES. (P.A.) WELLINGTON, May 29. The Reserve Bank announced tonight that the total of the 1945 ’Victory Loan is now £14,498,072. The cash subscriptions during the r } a T amounted to £247,602, including £7549 of redeemed promises. The amounts and percentages of objectives of the 20 war loan districts are now: Wellington £2,543,884 (69 per cent.); Auckland £3,644,822, 62; Southland £788,588, 62; Wairarapa £229,142, 59; North Otago £142,791,, 59; Taranaki £545,578, 58; South Canterbury, £342,688, 57; Otago, £1,259,780, 56 Wanganui £436,395,55; Hawke’s Bav £515,416, 54; GisborneEast Coast £233,111, 54; Northland, £244,148, 54; Marlborough, £131,138, 51; Waikato-King Country, £688,388, 51 • Thames-Bay of Plenty, £283,042, 51; Nelson, £262,360, 50; Manawatu, £554,384., 50; Westland, £165,867, 50; Canterbury, £1,436,648, 48; Buller, £49,902, 48. VERY LITTLE IMPROVEMENT. Investments in the Victory Loan at Ashburton continue at a low level, the amount raised yesterday being only £3617 9s. This brings the total so far to £124,712 12s.