LIBERTY LOAN

Grey River Argus, 17 June 1943, Page 6

LIBERTY LOAN

FIRST WEEK’S RESULTS. P.A. WELLINGTON, June 14. The first week •of the Liberty Loan campaign has produced results showing that the thirty-five million objective is a real stimulus to extra effort by the public. It was announced by the Minister of Finance, Mr. Nash that subscriptions up till Saturday totalled £7,398,465 and there were 5,179 applications, 84 per cent, were for less than £5OO, and fourteen per cent, for over that sum. In tne first week there were nearly three times as many applications, stated Mr. Nash, “and more than twice as much money as for the two previous loans. The money comes from ail places. The spirit prevailing rmhi throughout the whole of the Dominion is jnagnificient. The implications are we shall get our monej, but we cannot get too much, fhe fact that there is no extra taxation if subscriptions come up to requirements has impressed everyone with the necesssities of our country, and wisdom and advisability of everyone putting in all they can,” Mr. Nash commended what he called an extraordinarily enterprising proposal of Public Service Investment Society, which has agreed to lend any member of the Public Service the full amount they desne to subscribe. “Those who require a safe place for their bonds or script can,” he said, “take it to the post office and the officials will , give a receipt for safe custody. The trading banks do this for their customers, and are thinking of the possibility of doing; it for all who subscribe. He pointed out that 458,000 subscribers were secured to the last Australian war loan, 185,000 coming from New South Wales, and from Victoria. I wonder.” he added, “if New Zealand could do Petter than those two places put together. AUCKLAND INVESTMENTS. AUCKLAND, June lb. It wa’s announced to-day that the New Zealand Insurance Company Ltd., and the South British Insurance Cnmnanv Ltd., had eacn decided to SSt £200.000 in the Third Liberty Loan, and that the Auckland Racing Club had decided to invest £30,000.

Campaign in Greymouth

MEETING OF GROUP COLLECTORS.

A meeting of group . collectors in the National War Savings Scheme, and of representatives of firms where groups do not operate, was held in the Borough Council Chambers yesterday. Those pr es . were: Messrs Griffen and Smith, Ltd., Boustr'idge and Hall, Baillie, Neville and Co. Ltd., Borough Council Staff, Blaketown School, Millers on the Quay, Grey River Hospital, Woolworths (N.Z.) Ltd.. Sotheian s Ltd., C Smith, Ltd., National Service Department, Post Office, N.Z. Railways (Traffic and Loco branches) and the Customs Department. Apologies were received from Messrs R. Hannah and Coy., Miller's Warehouse, Ltd., and the Grey Electric Power Board. A total of 230 businesses had been invited to send representatives. . The Chairman of the National War Savings Committee (Lieut. F. F Boustridge), emphasised the part of National Savings investors in the Third Liberty Loan. (Although it was essential to raise the full amount of the loan, it was equally essential that the loan should be backed by the greatest possible number of investors, because then there would accrue an economic advantage of untold worth. Further, the en-1 emies of the country would realise that the people were supporting the Government in the proscution of the war. It was anticipated that the largest body of investors would be found in the National Savings field. The speaker outlined ways in which money could be invested in the loan. The main task of the committee would be the establishment of many more groups within businesses, increases in the numbers of present groups, and increases in the amounts being saved by group depositors. Group collectors and agents in ncngroup firms would be asked to approach fellow employees in an endeavour to secure new as well as increased deposits. Each employee would be invited to give a written promise to subscribe a definite amount to the loan by means of regular National Savings investments. The task was big, but not impossible.

The District National War Savings Organiser (Mr A. W. Hay) described in detail the group scheme, and its extension in support of the War Loan. All National Savings investments made during the current financial year would be part of the loan. Apart from the loan period, it was anticipated that £4,000,000 would be raised from National War Savings, and it was on that figure that quotas were based. A special feature of war savings activities, however, was to raise as many additional millions as possible, during the Liberty Loan campaiga by sales of Liberty Bonds and investments in National Savings accounts. , After- some discussion. Mr W. E. Bring moved and Mr G. D. Smart seconded .a resolution that the scheme as outlined be prosecuted immediately by those present and others, and that a further meeting be held next Wednesday. This was carried.

Members of the National WarSavings Committee present were Lieut. F. F. Boustridge and Messrs F. W. Baillie and A. W. Hay.