THIRD LIBERTY LOAN

Greymouth Evening Star, 8 July 1943, Page 2

THIRD LIBERTY LOAN

FIVE MILLIONS REQUIRED. WELLINGTON, July 7.

Liberty Loan prospects, were reviewed to-day at a meeting of the National War Loan Committee, the Acting-Governor of the Reserve Bank, Mr. W. F. L. Ward, presiding. The conclusion reached, after receiving reports from almost every part of the country, was that the district war loan committees had developed their organisation effectively, and that results had improved in each successive week. Consequently the national committee expressed. its confidence that the continued maintenance of campaigning vigour would achieve the national objective of a fully subscribed loan by Saturday. It is, however, felt by the committee that there is still a need for every New Zealander again to face his national war obligation, and invest more if it* cannot be said that the original subscription is fairly in accord with income and assets. “Keeping up the present pace will reach the goal; ■ but we cannot afford to slacken,” was the point of the whole discussion Reports from officers of the Reserve Bank who had toured large areas of the Dominion were encouraging, as they were unanimous that never before had there been so complete a recognition of the obligation to support the war loan. The activities of the loan committees, supplemented by national publicity had, they agreed, succeeded in creating What they termed a feeling of “liberty loan mindedness,” and that the fixing of district targets encouraged a healthy spirit of emulation. A certain amount of tardiness among people in the country districts in subscribing to the Liberty Loan was considered by the committee to be partly due to difficulties of travel Therefore it had been arranged, for the convenience of farmers and any others who were unable conveniently to reach offices where investments can be made, that all banks and post offices will accept telephoned instructions to take up loan stock, or to transfer Post Office Savings Bank deposits to national savings accounts. Banks and money order offices throughout New Zealand will . be open from 7 till 9 o’clock on Friday evening to receive loan subscriptions. To-day’s subscriptions to the Third Liberty Loan added £1,764,729 to the total, bringing it to £30,140,160. Thus in the remaining two and. a half days the amount still to be raised is £4,859,840. AUCKLAND CITY’S QUOTA.

AUCKLAND, July 7

The Auckland metropolitan area to-day reached its £5,000,000 quota of the Third Liberty Loan and exceeded it by the sum of £133,847. During the day £348,968 was subscribed in the city and £44,242 m the country, making £393,210 from the Auckland postal district. The figui’ es include Liberty Bond sales and National Savings contributions. The country area is still lagging badly. WESTLAND TOTAL £241,924 When Liberty Loan business closed last evening the Westland district total had reached £241,924, which is £222,748 short of the target oi £464,672 required by noon on Saturday. Hokitika, Ngahere and Moana secured their targets yesterday.

appointed with the response in that district, and that she is prepared to invest £5O in the Loan provided nine others can be found there to invest a similar amount, or 18 others £25 each. The investments in the various centres in the Westland district up to last evening were as follow:— Investment Deficit

Totals .. 241,924 2,690 All trading banks in the district will be open between 7 and 9 p.m. to-morrow (Friday) to receive subscriptions to the loan. The Greymouth branch of the Amalgamated Society of Railway Servants has invested £lOO in the Third Liberty Loan. So far £7586/3/- has been received at Granity, for which the target is £12,000. Employees of the Stockton mine, in instalments over ten fortnightly pays, ha.ve contributed £1695/10/-, while the Millerton and Granity engine drivers and brakesmen have promised £5O. Further promises from private persons total £2lO, making total receipts and promises £9541/13/-. Besides contributing £.lOOO in cash, the men at Stockton are paying £lBB5 by instalments.

PATRIOTIC COUNCIL DISCUSSION, The question of a subscription to the Third Liberty Loan was discussed at a meeting of the Westland Provincial Patriotic Council at Greymouth, last evening, but after only a few speakers had expressed their opinions no action was taken, a motion bv the Mayor of Greymouth (Mr. F. A. kitchingham) that a sum up to £l,OOO be invested in the Loan as the money comes to hand being lost by an overwhelming majority. Introducing the matter the Chairman (Mr. A. R. Elcock) said that he was of opinion that the Council could not put any money into the Loan. They had only £414 in the current account and about £l,OOO on call m the Savings Banks, while out of the current account they had to meet the cost of goods coming to hand for the July gift parcels. In addition they still had to pay £5,000 to the Patriotic Fund Board on account of the provincial levy before the end of the Board’s financial year on September 30. They had already invested £750 in a Liberty Loan due in 1948, £6,002 10/- in National Savings Bonds due in May, 1946, £7,000 in National Savings Bonds due in July, 1946 and in five trading banks covering Hokitika and Greymouth they had £lO,000 maturing in October and November, 1944. Mr. Kitchingham moved that a sum not exceeding £l,OOO be put into National Savings as the money came to hand. , ' ~ Mr. J. B. Kent seconded the motion. Mr. Houston spoke against the motion, saying that the Council had to take its commitments into account and also the fact that the money was coming in slowly to meet those commitments. _ The Secretary-Treasurer (Mr. D. J. Evans) said he was prepared to follow the advice of the Chairman that no contribution be made. Mr. J. A. Murdoch said he thought members were losing sight of the fact that they could finance without loss. They could get an advance against their deposits with the banks without any loss and without any delay. He was in favour of the motion, even if the Council had to finance to invest the money. On a show ol hands being taken the motion was lost, only Mrs. Shallcrass and Messrs Kitchingham, Kent, Murdoch and Carter supporting it.

£ £ Greymouth .. 109,302 97,450 Runanga .. .. . f?,625 35,391 Reefton 14,299 20,229 Brunnerton 1,901 18,899 Blackball .. 3,168 18,464 Waiuta 3,441 11,119 Kumara 3,450 9,446 Otira 900 4,924 Stillwater 256 3,488 Jackson Bay 2,135 2,857 Ross 11,631 1,681 Ikamatua 5,166 1,490 162,274 225,438 Surplus Hokitika .. 72,126 1,406 Moana 3,472 976 Ngahere .4,052 308