Russia Pays Interest Only To Lottery Winners
(Rec. 11.50 a.m.) LONDON, M'ay 4. The Moscow radio announced a second 20-year State loan of about £952,000,000 for the' restoration of projects. It is for the same amount and period as the May, 1946, loan, which was oversubscribed within a week.
. Under .the Russian system, the State, instead of interest, will pay prizes to the bond-holders who win lotteries, which are held twice annually during the loan’s 20-year period. Prizes ranging up to £2300 will go tQ one-third of the bond - holders. The amounts paid in prizes equal 4 per cent, per annum over 20 years.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GEST19470505.2.49
Bibliographic details
Greymouth Evening Star, 5 May 1947, Page 5
Word Count
104Russia Pays Interest Only To Lottery Winners Greymouth Evening Star, 5 May 1947, Page 5
Using This Item
The Greymouth Evening Star Co Ltd is the copyright owner for the Greymouth Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Greymouth Evening Star Co Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.