A SAFE INCOME FOR TWENTY TEARS.

Auckland Star, Volume LII, Issue 206, 30 August 1921, Page 3

A SAFE INCOME FOR TWENTY TEARS.

FROM AUCKLAND HARBOUR BOARD DEBENTURES. Most, of the 'hirh interest-bearing securities which have reicerrtly beea issued are redeemable in a few years. liMs-proviston-hae -been made 'because -it is ajitacipated that interest rates must inevitably fall in the. near issuing companies will tiven 'be able to borrow capital -on lower terras. The Auuklund Harbour Board has, however, fixed the currency of. its debentures for 20 years. .Consequently, no matter how low other rates may fall, the-interest on these delbentures will continue at the present rate for the whole of talis period. iAt the. end' of that time the -board will repay; £100 for earn debenture held and for which the bolder how~"pays orVlj '£"94." Such an investment is obviousiy anet cellent oneln~wKkJh~ tf»"pn>vrde~ for later years or to secure aji assured source of ineam&nor~ aTaBEly: Tn~e~ TncomeTs ■certaan. Revenue from rente alone ■Covers the amount Tetprired to pay interest on these debentures more than seven times over. The capitell is secure. The iboa!rd.'6 assets exceed its liabilities ■by over a miHicm and a quarter sterling, and ttiere is no risk of depreciation of capital, for the debentures will be redeemed at their full vatoe Interest at the rate of 5J per cent is paid, ,bi=t as the debentures are issued at £04 the return is equal to 6 per cent, incLudans redemption. The interest is pa-id liflif-yearly, and as free of income tax winere the income of the holder does not exceed £300 a rear Only about £20,000 o* the issue" of £100000 now remains to be subscribed, so tha* apphcations Should .be sent withoirt delay to the secretary, Aucbiand Harbour Board, P.O. Box 1259, Auckland irom wiiom a copy of the prospects may be obtained on request.

(Published" by Arrangement.)