GILT-EDGE INVESTMENT

Evening Post, Volume CVIII, Issue 24, 27 July 1929, Page 11

GILT-EDGE INVESTMENT

The Wainui Waterworks Loan, ISSO, was originally raised in London, and is now due for repayment. The Wellington City Council is therefore putting a repayment loan of £130,000 on the market on Ist September.- Instead of going to London, however, the. general public of New Zealand is being given an opportunity of securing debentures of £100 each in this repayment loan. There is no more convenient or attractive investment available than these city debentures, and a ready response is expected, as the local investor does not always get an opportunity to invest in these loans. The high standing of the city of Wellington ioaus in London is proverbial, and loans raised there recently have been oversubscribed many times in a day -or. two. Trustees may invest in these municipal' debentures. Interest commences to run from the Ist September, 1929, and investors in New Zealand will receive interest and principal free of exchange. Applications for debentures will be dealt with in the order they are received by the City Treasurer, but may also be made in the first place to any New Zealand branch of the Union Bank of Australia, Ltd, bankers for the Wellington City Council