1956 PROGRESS LOAN

Press, Volume XCIV, Issue 28128, 17 November 1956, Page 12

1956 PROGRESS LOAN

£1.6 MILLION STILL NEEDED

(New Zealand Press Association) WELLINGTON. November 18. The total subscribed to the second issue of the Government’s Progress Loan up to this afternoon was £3,363,880. Applications for stock numbered 1718. Commenting on these figures, the Minister of f inance (Mr J. T. Watts) said that there was still a large sum to get and only a few days in which to get it. He again appealed to intending investors to make their applications without delay. “The money we get from this loan will help to provide those public amenities for which there is such a keen demand and which are undoubtedly of the highest priority,” said Mr Watts. “The Government has carefully planned its capital expenditure, and its programme for the current period aims at providing the greatest good for the greatest number. To that extent, it relies on financial support from the people for the benefit of the people. The loan will be open for next week only, and I am relying on the maximum response in the closing stages,” said Mr Watts.

Up to the close of ousiness yesterday. 154 applications for a total of £139,330 of investments in the second issue of the national Progress Loan had been received by the district Treasury office in Christchurch.

This week’s Christchurch subscriptions totalled £38,100, from 54 applicants. This figure compared with £24,850. from 28 applicants last week, and £62.030 from 55 applicants the previous week.

The loan will close next week. Christchurch subscriptions to the first issue of the loan—of £lom—earlier this year totalled £992.000, from 1078 applicants.