RURAL BANK
N.S.W. LOAN OF JU,000,000. ■ The Commissioners of the Government Savings Bank of New South Wales and Rural Bank have issued the prospectus of tho first Rural Bank loan of £‘1,000,000, which will bear interest ate 51 per cent, per annum,, free of both Federal and State income taxes, and have a currency of 10J years.
The object of the loan is to give practical effect to tho Government’s closer settlement proposals. All money raised from the loan will bo applied towards the subdivision of private estates for closer settlement, and financing farmers and settlers under the conditions of the Rural Bank Act. Tho Rural Bank, although administered by the Commissioners of the Government Savings Bank, is entirely separate from the Savings Bank, and has no association with the funds of the latter.
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https://paperspast.natlib.govt.nz/newspapers/DOM19230403.2.69
Bibliographic details
Dominion, Volume 16, Issue 167, 3 April 1923, Page 9
Word Count
134RURAL BANK Dominion, Volume 16, Issue 167, 3 April 1923, Page 9
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