AUSTRALIAN DEFENCE.
NAVAL LOAN BILL INTRODUCED
United Press Association —By Electrio Telegraph—Copyright. MELBOURNE, December 1. Hie Naval Loan Bill, which has been introduced into the Federal House of Representatives, provides that the money shall be raised by inscribed stock at not more than 3J per cent. Power is reserved to raise any jjtert of the money by 31 per oent. Treasury bonds, and these may be exchanged for inscribed stock or redeemed out of money raised by the issue of stock. The inscribed' stock is made redeemable, and provision is made for c sinking fund of 4 per cent. The fund will start in July, 1912. The moneys raieed are to be appropriated for the initial cost of the Australian fleet unit.
CABLE NEWS.
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Bibliographic details
Press, Volume LXV, Issue 13595, 2 December 1909, Page 7
Word Count
124AUSTRALIAN DEFENCE. Press, Volume LXV, Issue 13595, 2 December 1909, Page 7
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