OVER-SUBSCRIBED

Grey River Argus, 4 June 1942, Page 4

OVER-SUBSCRIBED

BY £2,130,000 The Liberty Loan LARGE NUMBER OF INVESTORS. P.A. WELLINGTON, June 3. I'lie Liberty Loan to raise £15,000,OU0 for war purposes, has been oversubscribed by approximately £2,130,000. The results of the loan were announced to-night oy the Prime Minister (Mr. Fraser). He said that the figures given to him by the Reserve Bank showed tnat, wiui some returns still to come, subscrip-' cions now totalled £17,131,610. it was stated by the Prime Minister that the Liberty Loan was actually the largest single sum ever raised as a loan within this country. The achievement in over-subscribing the amount was therefore all the more gratifying coming as it did so soon after the high: v successful “Bonds for Bombers”, appeal. ( Mr. Fraser said that the totals for the respective classes of stock were: 21 per cent., stock maturing 1947, 12,959 applications for £6,122,340; 3 per cent, stock maturing 1952-55, 13,686 applications for £10,818,220. The total number of applications for Government stock .was therefore 26,645, representing £16,940,560. Liberty bonds sold up to date amounted to £191,050, thus giving the total of £17431,610 previously quoted. There was no information as to the number of people who had purchased Liberty Bonds, but he considered that it could safely be said, that every five bonds sold represented at Least one subscriber to the loan. On this basis there were 38,210 subscribers for Liberty Bonds, plus 26,645 subscribers for stock, making a total of 647,855 subscribers to loan, a gratifying response.

Deep appreciation for the most generous response which all classes of people had made to the loan appeal was expressed by Mr. Fraser on behalf of the Government and War Cabinet. “It is not merely the fact that th e loan has been oversubscribed that is so gratifying. What is even more significant is the splendid manner in which the small investor has responded,” he said. “Not only is the amount a record but the number of subscribers is also far and away ahead of anything we have had in the past. The war loan issued in August last attracted approximately 11,000 applications, but subscribers to the Liberty Loan, including purchasers of Liberty Bonds, are more than five times that figure. This is a most successful result and provides convincing proof, if an v further proof were. needed, that our people have the fullest determination to do whatever is necessary for the defence of New Zealand.”

AUCKLAND’S TWO MILLIONS.

AUCKLAND, June 3.

Auckland’s objective of £2,000,000 in the Liberty Loan, has been exceeded. An additional £300» in bonds, quickly written at the Chief Post Office, reached it this morning. Earl v this afternoon the Chief Postmaster reported the total had reached £2,008,979. Additional sums, in which Auckland was represented, were contributed direct to the Reserve Bank.

A.M.P. SOCIETY,

ADDS FURTHER £200,000.

WELLINGTON, June 3.

The A.M.P. Society to-day increased its subscription to the Liberty Loan by £200,000. When the Wellington campaign opened the Society announced that for every pound subscribed at Liberty Corner Headquarters they would subsidise on a pound for pound basis. This latest investment by the Society covers this subsidy, and raises their total contribution to half-a-million, which is believed to be the largest single investment in the Dominion by a private company.