NEW WAR LOAN

Auckland Star, Volume LXXIII, Issue 239, 9 October 1942, Page 4

NEW WAR LOAN

TERMS ANNOUNCED

TO OPEN OX MONDAY (P.A.) WELLINGTON, Thursdav. The terms of the second Libertv Loan were announced to-night by the acting Minister of Finance, Mr Fraser. He recalled that it was announced in the Financial Statement early this year that the total amount to be raised bv wav of loans for war purposes during' the current financial year yould be £27.500.000. The satisfactory- response to I. 1 ?- _£ irst liberty Loan, to which 1 j /,.*>oo.ooo was subscribed, loft, only £10.000.000 tone round now. and the public of the Dominion was asked to subscribe this sum to the second loan, which would be open for subscription next Monday and until November 14.

The prospectus, said Mr. Fraser would contain an oiler of two classes of stock, namelv. 2J per cent repayable on May 15.' 1948. and 3 per cent repayable on May 15. 1953-56. In the case of the last-mentioned stock, the right would be reserved for the Minister of Finance to repay it at any time after May 15. 1953, on giving three months' notice.

These terms were similar to those of the first Liberty Loan, the maturity dates in each case being advanced by approximately a vear Those desiring to take up the" new loan by instalments could do so on the following terms:—Thirty percent on application, 30 per cent on December 15. and 40 per cent on January 27. 1943.

A pleasing feature of the first Liberty Loan, said Mr. Fraser, was the large number of people' who contributed amounts from £10 upward, and he hoped, on this occasion, there would be an equally good if not better, response.