VICTORY LOAN

Press, Volume LXXXI, Issue 24568, 17 May 1945, Page 4

VICTORY LOAN

TOTAL MORE THAN £11,000,000

DISTRICT PERCENTAGES (P.A.) WELLINGTON, May 16. The Reserve Bank announced tonight that the total of the 1945 Victory Loan up to the close of business to-day was £11,158,164, including to-day’s cash receipts of £207,551 and promised subscriptions paid in. £41,617. The amounts and percentages (in parenthesis) of objectives of the 20 war loan districts are now:—Auckland, £2,700,344 (48 per cent.); Wellington, £1,696,271 (46); Southland, £580,852 (46); Otago, £942,641 (42); South Canterbury, £229.098 (38); Wanganui, £299,026 (38); Wairarapa, £148,083 (38); Northland, £167,287 (37); Taranaki, £348,964 (37); Nelson, £190,976 (36); North Otago, £84,571 (35); Marlborough, £89,212 (35); Westland, £117,610 (35); Buller, £36,040 (34); Waikato-King Country, £457,828 (34); Hawke’s Bay, £325,623 (34); GisborneEast Coast, £143,403 (33); Canterbury, £989,122 (33); Thames-Bay of Plenty, £178,579 (32); Manawatu, £357,634 (32),

APPLICATIONS FOR STOCK

FIGURES FOR FIRST TWO DAYS

“MUCH YET TO BE DONE” (P.A.) WELLINGTON, May 16. "In the first two days of the 1946 Victory Loan campaign the number of applications ‘for stock totalled 1650, When the £40,000,000 loan of last year was closed the ntimber of applications for stock had reached 40,000, so that much has, yet to be done this year if the smaller loan of £25,000,000 is to be a success,” states the National War Loan Council. “War loans are people’s loans, and there has to be a widespread response to achieve not only monetary success, but to show the fighting services that the home front is grateful in a practical way. The £25,000,000, however, are not given. They .are lent at interest and are repayable on definite dates. There are variations in the type of possible investment to meet the convenience and the resources of every class of the population. The two secondary school children who spoke at the official opening of the campaign this week nelcv In their hands victory bonds bought with their own savings. These bonds, of £IOO. £lO, and £l, are to be bought as easily as postage stamps at any* post office and bear the date on which they are to be repaid with Interest in five years from the day of issue.

National Savings “For the investor who prefers regular contributions—and modest sums frequently paid towards war costs are of appreciable value to the war effort —that national savings account', provides the easy avenue. This account can be .opened in addition to any existing post office savings bank or trustee savings bank account. The interest is 3 per cent., and .deposits made before the end of June are repayable on Jupe 30, 1947. Interest credited'to the depositor is withdrawable at .any time. “War loan stock is of two kinds, one being a shortrterm loan for war purposes, redeemable on April 15, 1950-51. and bearing interest at 2j per cent. The long-term loan at 3 per cent, is repayable on April 15, 1956-59. If the investor prefers an instalment system of payment. £3O per £IOO can be lodged with the application, a further £3O on August 1 next, and the Anal £4O per cent, on September 14. Any instalment may be paid before its due date, and interest, upon it begins at once.

“There should be no difficulty in raising loans against the security of these bonds and stocks, because they are ‘gilt-edged’ and readily acceptable by banks and other lenders as collateral security. "The National War Loan Council emphasises the need for early investment, because the district war loan committees deserve help in their Satrlotic voluntary service, which ley will maintain at the peak point until the £25,000,000 have been subscribed. Investors will not lose interest by early application, as interest commences immediately.-though payment dates,are April 16 and October 15 in each year. “As a stimulus to trade unionists throughout New Zealand the members of the Wellington Carpenters’ Union are repeating their last year’s challenge that they will raise from their individual members more a head than any other trade union. This appeal to trade unionists is another reminder of the fact that the 1945 Victory Loan is a people’s loan.”

CANTERBURY TOTAL

INVESTMENTS NOW £964,326 Good figures are still coming forward in the 1945 Victory Loan, and investments for Canterbury now total £964,326.

Anyone wishing to invest in the loan is urged to use the special Post Office in the Square, as every class of investment can be handled without delay. Entertainment will be provided in the Square to-day by Mrs Jones’s concert party. On Friday afternoon the Army will supply items. The public will be given an opportunity of seeing a type of bridge which has been invaluable to our fighting forces when Army engineers will erect a Bailey bridge over the Godley Plot. Subscriptions have been received from;— Thomas V. Johnston, Annat, £350; Mrs M. I. Johnston, Annat, £350; Canterbury Manufacturers’ Association, £1500; Christchurch Building and Land Society, £500; W. H. McKeown. £3000; Brown Bros., Engineers, £SOO.