THE WAR LOAN

Evening Star, Issue 16195, 17 August 1916, Page 5

THE WAR LOAN

METHODS OF SUBSCRIPTION. Intending investors are reminded that applications for the war loan close on Monday next. There are two methods by which subscriptions to the War Loan may l>e made. The first—designed to meet the requirements of investors of large sums—is provided in tho issue of war bonds, obtainable in denominations of £6O, or multiples of £SO, and having a currency of either 14 or 25 years. For tho benefit of other investors War Ivoan certificates will be issued on the basis that a cash payment of 16s will entitle the investor to"a certificate- for £sl, payable in five years, and so on with subscriptions of multiples of 16s.

'"THE LAST SHILLING." TROTTING ASSOCIATION INVEST. At Tuesday night's meeting of the New Zealand Trotting Association the president (Mr P. Selig) suggested that tho funds of the association might be put into the War Loan. He 'iked tho idea, and although a large sum had been placed ou deposit with the bank for two years, the manager bad agreed to its withdrawal. The treasurer (Mr W. J. M. Hopkins) said that tho association should invest their last shilling in the War Loan, and he moved that the sum of £2,500 deposited on behalf of the Provident Fund should he invested in the War Loan for 14 years. Tho motion was carried as a recommendation to the trustees.

STATEMENT BY FINANCE- MINISTER.

CONCESSION TO INVESTORS.

Speaking of the War Loan at Wellington last night. Sir Joseph Ward said : " Representations have been made to me by trustees and others who desire to inve3t moneys on behalf of truAt beiiciiciaries, a.nd they point out that to break invvitnienls now l-,«u*!nc interest and not to receive interest fr'.m the Government upon the whole amount would result in loss to those whom they represent. I recognise that difficulty'as one that should l>e met, and I have (livui instructions to meet the eases not only of trustees but of anyone who desires to apply for investment in war debentures th.it ; nterest will ixi allowed in full on applications upto£2O,Coo —that is, a full six mouths" interest, dating r

.■s from f>epteml>er 1, provided the applicants apply not later than tlio 21st iiwt. and pay the full amount for which they are applying on or lief ore the oml u£ tho" pre-

tent month. Those desiring to invest larger sums will be dealt with as announced in the prospectus. I have reason to believe that, speaking generally, it suits the largei- applicants to have their payments spread in instalments over the period nam<-<l in the prospectus—that- is. six months."

PUBLIC MEETING in dunedin. His Worship the Mayor iMr J. J. Clark) received the foliow'ug telegram from Sir J. G. Ward yesterday: It would be of great assistance in connection with the War Loan if you could arrange to hold a public meeting, at which you and other speakers might urge the necessity of the public taking up investments." All money order offices throughout the Dominion will be kept open from 7 to 8.30 p.m. on Friday and .Saturday next for the purpose of receiving applications for investments. 1 feel sure that you will be only too pleased to help the Dominion in it's new venture

In accordance with the wish of the Minister Mr Clark has decided to hold a public meeting in the Town Hall at, 5 p.m. to-morrow.

[The Mayor of St. Kikln, Mr M'Farlane, has convened a public meeting, to be lreld in the Coronation Hall, >t. Kilda, at 8 p.m. to-morrow on the War Loan matter.]

WANGANUI PATRIOTIC COMMITTEE. [Per United Press Association.] WANGANUI. August 17. The Wangamu" Patriotic Committee have decided to invest £IO.OOO in the war loan.

.IX UNEQUALLED INVESTM KX't

TO TIIE EPITOU. Sir, —As many persons may not have had brought home to them the great importance of the £3,OCO,CCO issue of the Government War Loan being fully subscribed, and the disadvantages * which would accrue to everybody in the. Dominion were it not "so subscribed, we would ask you to.be good enough to publish this letter,coiiUiimng briefly'our views on the subject. On all grounds the success of the loan is to be desired. Those of patriotism and the proper treatment of our soldiers, having been well expressed by those in authority, need not be dwelt upon by us, but ■there are other reasons affecting the people in a more or less direct manner. It would appear that if the. necessary money be not raised by the loan, it must bo got by further heavy taxation, in which ail classes must, either directly or indirectly, share; also the credit of the Dominion would suffer, which in mam ways would affect the welfare of the people.

Subscription to the loan does not mean a sacrifice or loss. The investment has never been equalled in New Zealand as a safe and remunerative one, and the return to normal conditions of the money market in a few years would cause it to command a substantial premium. The interest will bo distributed in the Dominion, and will be available for investment in ami development of the country. In about 16 years the interest, compounded, will amount to the original principal, leaving the investment intact.

Firmly believing that full subscription of the loan will be no less beneficial to the individual inhabitants of New Zealand (with whose, welfare that of the institution in which we have the honor to renresent the ordinary shareholders is bound up) than to the Dominion as part of the Empire, we strongly urge all who have the means idle or within view to apply for as much of the loan as they can afford.—We are, etc.,

Martin Kennedy W. Watson-,

Directors representing the shareholders on the Board of the Bank of New Zealand. Wellington, August 15.