DEVELOPMENT LOAN
£6,516,000 ALREADY TAKEN UP
(New Zealand Press Association) WELLINGTON, June 11. Contributions to thf £30,000.000 national development loan amounted to £6,516,000 by this evening, said the Prime Minister (Mr Holland) tonight.. Applications for stock totalled 1847. Mr Holland said that applications were being received at a satisfactory rate, but he appealed to large and small investors to make every effort to fill the loan before the closing date, July 8.
Among the latest large subscriptions, said Mr Holland, were the following:— T- and G. Mutual Life Society, £304,500; A.M.P. Society. £215,000 (with a promise of £200,000’ more); Government Life Insurance Office. £ 1 02,000; and Mutual Life and .Citizens’ Assurance Company, £lOO,OOO.
SUBSCRIPTIONS IN CHRISTCHURCH Christchurch subscriptions to the £30,000,000 development loan /lave reached £690,090. Applications total 218. This week £376,460 was sub-
scribed to the loan by 97 applicants. The subscriptions included £ 10,000 from the Farmers’ Co-operative Insurance Association of New Zealand, Ltd. So far investors are favouring the shorter-dated issues, the fivs-year term, which is most favoured, carrying about three-fifths of the total subscriptions.
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Bibliographic details
Press, Volume XC, Issue 27374, 12 June 1954, Page 6
Word Count
177DEVELOPMENT LOAN Press, Volume XC, Issue 27374, 12 June 1954, Page 6
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