VICTORY LOAN MONEY IN POST OFFICE

Press, Volume LXXXI, Issue 24581, 1 June 1945, Page 6

VICTORY LOAN

MONEY IN POST OFFICE

£15,000,000 MARK PASSED DISTRICT OBJECTIVES AND PERCENTAGES <P.A.) WELLINGTON, May 31. The Reserve Bank announced tonight that the total of the 1945 Victory Loan is now £15,035,238. The cash subscriptions during the day amounted, to £291,677, including £32,496 of redeemed promises. The • sum of £9,965,000 is required before the closing date, June 16. The amounts arid percentages of objectives of the 20 war loan districts are now;— Wellington, £2,635,032 (72 per cent); Southland, £826,611 (65); Auckland, £3,723.342 (64); Wairarapa. £240,422 (62); North Otago. £146,471 (61); Taranaki, £567,433 (61); South Canterbury, £356,422 (60); Wanganui. £459,192 (59); Otago, £1.300,485 (58); Northland, £261,622 (58); Hawke’s Bay, £541,448 (56); Gisborne-East Coast, £245,406 (56); Manawatu, £604,229 (55); Marlborough, £137,198 (54); Waikato-King Country, £713,708 (53); Thames-Bay of Plenty, £288,120 (53); Nelson, £277,243 (53); Westland. £171,447 (51); Canterbury, £1,487,554 (50); Buller, £51,873 (50).

£1,475,859 INVESTED IN CANTERBURY

The Culverden, Cheviot, and Waikari districts have done well in the 1945 Victory Loan, and the Culverden committee expects that its quota will be filled within a few days. £1,475,839 had been subscribed in the Canterbury district by last evening. The following sre the district totals reached on Wednesday evening: Christchurch. £1,126,671; Akaroa, £10,372; Amberley, £7930; Ashburton County, £125,068; Cheviot, £15,984; Culverden. £9708; Cust, £2351; Barfield. £8608; Dunsandel, £3069; Duvauchelle. £1567; Hanmer Springs, £2536; Hawarden, £9013; Hororata, £7029; Kaiapoi, £12,090; Kaikoura, £8582; Kirv.ee. £1330; LeestonSouthbridge, £17,102; Lincoln, £2464; Little River, £5271; Lyttelton, £15,259; Oxford, £6519; Rangiora, £25,259; Befton. £1678; Sheffield-Springfield, £3951; Tai Tapu, £2110; Waiau, £6213; JWaikari district, £11,785.

TRANSFER TO NATIONAL SAVINGS APPEAL BY LOAN COUNCIL (P A.) WELLINGTON, May 31. "Savings bank credits show that most New Zealanders have a good nest egg of cash which they can readily obtain if the need arises," says the National War Loan Council “The total amount thus available, without any formality except to sign a withdrawal slip, is remarkable, In the Post Office Savings Bank at the end of last February the impressive sum of more than £109,000,000 stood to the credit ol slightly more then 1,000,000 depositors. Trustee savings banks held deposits of more than £12,000,000. This is a total of more* than £120,000,000 held at ‘call,’ and the National War Loan Council makes an appeal to savings bank depositors to lend at least some portion of 'this great capital accumulation for a definite period of two years so that it . can help to finance New Zealand’s war operations. * "The owners of these millions probably .believe. that the State can use them in any circumstance, but the actual position is that the money, though Interest-bearing, can be withdrawn at any time. Savings bank depositors can help their country by afithbi&lng the transfer of part of their credit to a national savings account It means that whatever sura is thus'allocated w|U be a loan until June 30,, 1947, when It will return to the ‘at Call’ category of the ordinary deposit. Hit is convenient to lend for a longer term the depositor canjm struct the postmaster or the of a trustee savings bank to ouy a specified amount of victory bonds, repayable in five . years. The third plan involves the purchase of long or short-term stock.. 'The''suggested transfer of savings bank money into National Savings, or the other forms of war loan investment; Involves no loss of interest If it takes place on the last day of May, or June 1, a full months’ interest will be: credited to the savings bank account, for .May, and interest on war loan investments commences on June 1. Ihe thrifty people who .own so many millions ‘at call’ could subscribe the whole of the Victory Loan and ■till leave a good nest-egg ‘at call.’ The, time for effective action which will maintain continuity of interest Is die week not later than Friday.”