THE WAR LOAN

Evening Star, Issue 23973, 26 August 1941, Page 6

THE WAR LOAN

DEATH DUTY STOCK AVAILABLE FOR PURPOSE AT FACE VALUE (P.A.) WELLINGTON, August 26. The Reserve Bank has received l inquiries from different parts of New Zealand asking whether the death duty stock issued in terms of the War Ldan prospectus is available for death duties at its face value. The bank states that the position is that such stock will on the. death of the stockholder at any time' before the maturity date of the loan be accepted at par by the Commissioner of Stamps in payment of death duties in the estate of the deceased holder.

Therefore, every hundred pounds of death duty stock subscribed for will be accepted in payment of an equivalent amount of death duties. All that is necessary is for the subscriber to show on the application form that the security is required to be issued in the form of death duty stock.

On the subscriber’s death the executors in the estate rnay transfer such! stock to the Commissioner of Stamps, who will accept it at face value and apply the proceeds towards the payment of the death duties.