IN ADVANCE

Grey River Argus, 26 February 1942, Page 3

IN ADVANCE

N.Z. WAR LOAN Subscriptions to be Received P.A. WELLINGTON, February 25. “The Government has adopted a scheme whereby the public will be given an opportunity of investing immediately in the next New Zealand Government war loan,’’ said Rt. Hon. P. Fraser to-day. “The terms and conditions of the next loan nave not vet been fixed, but it is evident that a substantial amount will be required during the forthcoming financial year for the purpose of meeting part of the cost of the Dominion’s increasing war expenditure. “The raising of a large Government loan within a period of a few weeks or less means a sudden ana heavy demand on the investment funds of the public, on the other hand, many institutions and persons in New Zealand are in a position to invest considerable amounts from time to time throughout the year, and it is felt that the strain of financing our war activities would be eased if the Government accept money as it becomes available, and thus spread loan requirements over a period of some months. Tne Reserve Bank of New Zealand has been authorised, therefore (m terms of the War Loans Advance Subscriptions Emergency Regulations. 1942), as from Friday, February 27, to accept advance subscriptions for the next war loan, subject to the following terms and conditions: —Every advance subscription which must be for an amount of £lO. or a multiple of that sum, to be applied in the purchase of stock issued in accordance with the prospectus of the next New Zealand Government Loan. Interest on the advance subscriptions at the rate which will be specified in the war loan prospectus, when issued, will accrue from the date tha.t the advance subscription is lodged, but it will not be paid until after the issue of the, prospectus, and then, of course, in accordance with the provisions contained therein. “The war loan to which subscription is applied will provide for both long and short-dated stock. Consequently. application for advance subscription should specify whether long or short-dated securities are required. Applications for long-dated stock may be altered to short-dated stock, and vice versa, provided written notification of the required alteration is delivered or posted to the Reserve Bank not less than seven days after the opening . date of the war loan. Advance subscriptions also may be withdrawn by a subscriber at any time not later than seven days after the opening date of the war loan, on demand in writing delivered or posted to the Reserve Bank of New' Zealand, Wellington. Interest will not be paid on advance subscriptions which are withdrawn. “Forms of application on which the terms and conditions governing auvance subscriptions are endorsed, should be available at all banks ana mon’ev order offices throughout the Dominion within the next day or two. Also, all Stock Exchanges will have particulars of the scheme, and intending investors are, therefore, requested to get in touch with their banker or sharebroker.’’ Mr Fraser concluded: "It is the obligation of everyone who can afford to do so to invest in Government war loans. Adequate supplies and equipment for our forces cannot be provided unless the Government has ample means at their disposal, and it is hoped, by the introduction of this scheme, to ensure that a< - considerable portion of the money necessary for maintaining and equipping the forces will be provided in a manner which w'ill cause the least possible strain on the Domniion’s economy.”