Bond prize increase
(W,Z. Tns* X»»ooioHon> WELLINGTON, June 17. The bonus bonds first prize would be increased from $lO,OOO to $15,000 in the next: draw on Tuesday, July 13, the PostmasterGeneral (Mr McCready) said in the Budget debate in Parliament tonight. The increase was announced in the Budget. No other changes would be made in the scale of prizes. The total monthly minimum prize sum would be $25,000. When the sum available for prizes exceeded $25,000
each additional $5OOO would be divided into one prize of $5OO, five of $lOO, 10 of $5O, and 350 prizes of $lO. Where there was a residue of less than $5OOO it would be distributed as additional $lO prizes. Fourteen bonus bonds prize draws had been held since July 14, 1970, involving $760,520 divided into 41,144 prizes. The next draw, No. 15, would be for a prize fund of approximately $74,000. Savings held in bonus bonds now exceeds $22.5m.
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https://paperspast.natlib.govt.nz/newspapers/CHP19710618.2.13
Bibliographic details
Press, Volume CXI, Issue 32636, 18 June 1971, Page 1
Word Count
155Bond prize increase Press, Volume CXI, Issue 32636, 18 June 1971, Page 1
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