OFFER BY TRADING BANKS

Auckland Star, Volume LXXVI, Issue 117, 19 May 1945, Page 7

OFFER BY TRADING BANKS

ADVANCES TO CUSTOMERS

Customers of the commercial banks are receiving from their manager a friendly letter which explains how investment in the 1945 Victory Loan will be facilitated for those who have good resources or a buoyant income and wish to obtain the ready money by pledging their credit to invest in the loan.

There was a period of the war when the material' possessions of the people were threatened with destruction. . Firewatchers, _ the E.P.S. Organisation and enthusiastic Home Guardsmen all gave their time to provide an efficient protective system. That dangerous moment has passed without a single tangible reminder of what could have happened, except, it is hoped, a realisation that heavy expenditure had to be incurred and much human effort utilised, says the National War Loan Council. Property owners still enjoying the full benefit of undamaged possessions should, therefore, feel an obligation to pledge those saved assets, if necessary, in order to pay the debt. Subscriptions to the Victory Loan may be spread over four months on the basis of subscription announced in the prospectus. Where a longer term for payment of scrip is required, the banks are prepared- to make war loan advances, repayable by instalments spread over eight months, during which the banks will charge the actual interest rate of the loan.