A GILT-EDGED INVESTMENT. The loan of £59,000 now being floated by the Wellington City Council is an attractive investment. The principal and interest are secured by special rate on the unimproved value of the city of Wellington, which value is now about £1 J,000,000. The complete security attached to the loan makes it a gilt-edged investment, and anyone desiring a good rate of interest consistent with undoubted security could not do better than invest in this loan. The loan is for a short term of ten years, and is repayable on Mav 1, 193-1. Interest is 51 per cent., and is payable half-yearly on the first days of May and November. A sinking fund of 1 per cent, will be established in connection with the loan. The debentures offered to the public are for £lOO each, but large investors if they so desire may apply for debentures in denominations of £5OO and £lOOO. The loan is available to all, and should appeal to all classes of investors. Interest commences immediately an investment is made- It is the most convenient form of investment obtainable, as at each half-year a coupon is detached from the debenture and may be either presented at the council offices for payment or lodged to a bank account. Investors will receive interest and repayment of principal free of exchange anywhere in New Zealand. Trustees may invest in these municipal debentures. Applications should be made promptly to tho City Treasurer, Town Hall, Wellington.—Advt. |
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Bibliographic details
Dominion, Volume 18, Issue 194, 12 May 1924, Page 6
Word Count
245Page 6 Advertisements Column 4 Dominion, Volume 18, Issue 194, 12 May 1924, Page 6
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