LOAN TOTAL MORE THAN £5m.
3380 Applications
MR WATTS’S REPORT (New Zealand Press Association) WELLINGTON, July 4. Subscriptions to the Government’s Progress Loan have reached £5.100,000, the Minister of Finance (Mr J. T. Watts) announced this evening. Applications now total 3380. The Minister said there still seemed to be some doubt as to how subscriptions could be made. The procedure was simple. Anyone who wished to apply for stock in any of the issues could do so through his bank or stockbroker. or could send direct to the chief accountant at the Reserve Bank. Wellington. Money could be transferred from a Post Office account merely by filling in an application form and a withdrawal form and handing them with the bank book to a teller.
Loan investments were accepted in amounts of £5O and upward, and could either be paid in full at the time of application or in instalments. If the latter course were adopted »10 per cent, could be paid on application, 40 per cent, on August 13 and the balance on October 31. Interest accrues immediately on the amount paid in.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19560705.2.72
Bibliographic details
Press, Volume XCIV, Issue 28012, 5 July 1956, Page 10
Word Count
184LOAN TOTAL MORE THAN £5m. Press, Volume XCIV, Issue 28012, 5 July 1956, Page 10
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in