REMARKABLE SUCCESS OF WAR LOAN

Dominion, Volume 10, Issue 3007, 19 February 1917, Page 5

REMARKABLE SUCCESS OF WAR LOAN

GREATEST FINANCIAL TRIUMPH IN THE WORLD'S HISTORY MONEY POURED IN AT ; ELEVENTH HOUR (Rec. February 18, 5.5 p.m.) • . London, February 17. A great .eleventh-hour rush set in !or the British "Victory" War Loan. the Stock Exchange describes it as the jreatest financial triumph in the world's history. Eager crowds surrounded the hanks throughout the'day. A feature ■bf. the.transactions was tho. consider-' :. Hble amount of gold disclosed, and ■ Iwhich had apparently been hidden in , .stockings. Hundreds of women sent the Lord Mayor their jewellery xo sell Ss gifts for the Exchequer, these; including valuable necklaces, diamond rings,;and watches. Most of the gifts ..Were annonymous. Before the loan was issued the great banks had made arrangements whereby the money ,the .Chancellor required would be forthcoming, but tho response I by the public was. so'great that thelianks were not called on to'uake 'direct subscriptions, though they made large loans to approved' clients. There was an immense number of "middle-class subscriptions, particularly for war saving certificates. Large employers of labour throughout tho country had taken up large blocks of stock the benefit of their employees, who will repay by weekly deductions from their ■ wages.—Aus.-N.Z. Cable Assn. • SIR JOSEPH WARD'S INVESTMENT V London, February 16. Sir Joseph Ward has subscribed £10,000 to the War Loan.—Aus.-N.Z. Cable Assn. . OUR WAR LIABILITIES. (Rec. February 17, 7.20 p.m.) London, 'February 16. The "Nation," discussing Britain's tremendous commitments, states: —■ '•'When-the new vote of'''credit for £550;000,000 is exhausted, at the end of May, our war bill will have reached . £4,182,000,000. The National Debt will ;■■ then be £4,200,000,000. The conclusion •■' of the war will'not bring immediate relief. Our probable total indebtedness is £6,000,000,000, of which "£1,000,000,000 have been advanced to our 'Allies. We are called on to pay '£250,000,000 in interest per year, in addition to £100,000,000 for sinking fund and pensions." The "Nation" estimates that the new AVar Loan will .secure over £600,000,000 of new money. r—Aus.-N.Z. Cablo Assn. _ BIG FRENCH WAR VOTE . (Rec. February 18y 5.5 p.m.) London, February "17. M. Ribot (French Minister of Finance) has introduced a" war credit of £9,574,000,000 francs (roughly, £345,- , 000,000;, according to tho exchange rate in September, 1915), to cover the second ■ quarter of 1917.—Au5.-N.Z. Cable Assn.