A SOUND INVESTMENT.

Press, Volume LXII, Issue 18591, 16 January 1926, Page 15

A SOUND INVESTMENT.

s GOOD INVEST}]EXT AND SAFE SECURITY. CIIRISTCHURCH DRAINAGE BOARD DEBENTURES. As illustrative of the soundness of the Christchurcli Drainage Board's Debenture Loan of £200,000, it might be stated that the capital value of the area comprising the security has in the short space of twelve months increased considerably. The Debentures and Interest on the Loan are secured by a special rate of one-farthing in tho '£ oil the capital value of an area which was valued at, £14,500,000 twelve months ago, and is now valued at £ 16,5(5(5,1.00, and J.}d in tho- £on Hie capital value of an area valued at £(5,500,000 twelve months ago, and now valued at £7,1(57,6%'. This area comprises practically the whole of the city of Christchurc'h and a large portion of the suburbs. : 1

Interest at the rate of 5} per cent, will be paid by the Board, and Debentures will be issued in the following denominations, at the option of the purchaser: £IOO each, £SOO each, or £IOOO each.

The term of the loan is for fifty years from October Ist, 1923, witli the right of redemption by tlic Board of the whole or any portion after the expiration of fifteen years. A Sinking Fund is provided for the repayment of the whole of the loan at maturity.

Application money will be received at the Office of the Board, 198 Hereford street, Christehurch, in Cash, Bank Draft, or Cheque, and fractional interest at the rate of"5J per centum per annum, will be paid from tho date of receipt of application money, if accepted, in cases where such receipt occurs upon dates other, than half-yearly interest dates.

A Brokerage of lOspcr cent, will bo paid to members of recognised Stock Exchanges, and also to Banks and Solicitors doing business in the Dominion on sales actually completed by them. Such Application Forms must bo forwarded to the Secretary of the Board under cover of memorandum by the sharebroker, banker, or solicitor, as the case may be. —6