WAR LOAN STOCK.
PENAL CLAUSE TO OPERATE. Advice has rcached banks and stockbrokers dealing with war loan script, that after May 31st no application for :.his stock is to bo accepted, unless it s inado dircct to tho Troasury by tho nvostor himself. The ponal rate of nterest only will bo allowed on stock purchased after that date, bo that, initead of getting 4J per cent., as at >roscnt, investors will receive only 3 >cr cent. It is possible therefore, that thero vill shortly bo brought into force tho •ompulsory clauses of the Finance Act, 918, a provision of which is that where 'the Commissioner of Taxes has roaeon ;o believe that any person has not subcribed in proportion to his means," ho nay call upon tbnt person to subscribe ip to Hx times tho yearly average of he land tax and income tax (exclusive if excess profits duty) paid or payable iv him for the throe years ending tiarch 31st, 1918.
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Bibliographic details
Press, Volume LIV, Issue 16219, 23 May 1918, Page 6
Word Count
162WAR LOAN STOCK. Press, Volume LIV, Issue 16219, 23 May 1918, Page 6
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