DEVELOPMENT LOAN
£7 Million Still Needed
(New Zealand Press Association) WELLINGTON, June 21.
Subscriptions to the Development Loan now totaled £7,853,000, leaving £7 million Still to be subscribed in eight working days, said the Minister of Finance (Mr Nordmeyer) tonight. He said he was confident there were still a good number of people proposing to subscribe but deferring that decision until the last minute. “In those cases where only part of the cash for investment is immediately available, the terms of the loan provide for payment by instalments,” said the Minister. “A first payment of 10 per cent, of the amount will be accepted to be followed by 40 per cent, on or before August 19, and the balance of 50 per cent, by September 30. Interest will be paid on each instalment from the date of payment.”
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Bibliographic details
Press, Volume XCIX, Issue 29237, 22 June 1960, Page 16
Word Count
138DEVELOPMENT LOAN Press, Volume XCIX, Issue 29237, 22 June 1960, Page 16
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