BRITAIN'S' WAR LOAN

Dominion, Volume 10, Issue 2976, 13 January 1917, Page 9

BRITAIN'S' WAR LOAN

TERMS OF THE PROSPECTUS London, January 11, Mr! Boiiar Law (Chancellor of the .Exchequer) announces that tho new' War Loan'will be issued at £95, for a term of thirty years, in 5 per cent, bonds, which will he optionally redeemable at the end of 1929. • A sinking fund will he established, for which one-eighth of 1 nor cent, of the capital will bo set aside monthly until ten millions have been accumulated for purchasing stock. Whenever the stock falls below the issuo price, Income tax will not be collected at tho source. This is in order to encourage small subscribers. Mr. Bonar Law announces, also, that an optionary loan will bo offered at 4 per cent., to be free of taxes, and to bo issued at par. Subscribers will have the option of compounding the loan at 4 pef cent, at par. ' Holders of the 4} per cent. AVar Loan, and of 5 and 6 per cent. Exchequer bonds will have the option of converting into the new loan at'par.— Aus.-N.Z. Cable Assn. ACCIDENTAL LEAKAGE , London, January 11. Details of the War Loan accidentally leaked out at Manchester, to which city bundles" of prospectuses had been sent for delivery. The contents of the prosDectus reached .'the Manchester Stock Exchange,, and efforts were made to transmit the principal , conditions to L'on'don by telephone and telegranh. The result was that an immediate censorship was instituted, and Manchester was telegraphically isolated. A thousand clerks in the Hank of En/dand and. the new Loan Office will deal with the rush for prospectuses. A dozen strong rooms have been constructed for storing the gold.—Aus.N.Z. Cable Assn.