FURTHER DETAILS

Press, Volume LI, Issue 15338, 23 July 1915, Page 8

FURTHER DETAILS

(Received July 22nd, 8.40 "p.m.) MELBOURNE, July 22. Mr Fisher, in explaining the "War Loan, said it was expected that fully throe-fourths of the war expenditure would be spent in Australia. The loan -would-bo placed in different parts of the year, so ag not to unduly disturb rite, market and increase the opportuni■fciea of investors. ,The banks had agreed to charge neither commission nor ' exchange in. connexion with the subscription, of the loan. Nominally,the amount asked for- in the first- instalment- was five -millions, but the full amount subscribed -would bo accepted by tho Government. The loan might be taken up either as inscribed stock or Treasury bonds. The minimum amount of stock was £100, whilst the smallest bond waa '£10. The interest was 41 per cent., and ") the loan'mrakl be at par, and be ' payable half-yearly. The term of the loan was ten rears. Tho subscription - lists would ckeo on August 3rd. The } stock would be insrrihed in accordance '• with the Commonwealth Act. All bonds ■ and transfers would be free, and the 'Snscribed*6tock would be free of stamp duty, and the interest free'of income /tax. . The prospectus of the loan has been - "circulated. It shows that the bonds '"' .swill be issued, in. denominations of £10, £100, £500, and £1000, and the infccribed stock in amounts of £100 or any thereof, through the Common- . i wealth Bank in the various States.