Bonus Bonds On Sale On March 5

Press, Volume CX, Issue 32214, 5 February 1970, Page 1

Bonus Bonds On Sale On March 5

Post Office bonus bonds will go on sale throughout New Zealand on March 5. Since the announcement of the bonds scheme In the 1969 Budget, 10 Post Office planners have studied the British scheme, arranged the printing of the bonds, and set up distribution centres. The principal of the automatic data processing division of the Post Office (Mr C. A. Hudson) expects that two million bonds will be issued in the first year—half within the first month. The Post Office will employ 90 persons at the bonds centre set up at the Public Trust Office in Dunedin. The first draw will he next July, when the num-

hers will be selected by a machine named Ernie lent by the British Post . Office until New Zealand gets its own device. The numbers drawn will be compared against the bond register, names and addresses obtained, and prize-winners notified. Copies of the prize list will be released to newspapers and displayed at all Post Office Savings Bank offices in the country. A special instructions book will be issued to all savings bank tellers to assist depositors. Mr Hudson expects that the bonds will be as popular in New Zealand as they are in Britain where $1450 million has been invested In the scheme.