HIGHER INTEREST

Grey River Argus, 11 September 1944, Page 2

HIGHER INTEREST

From Victory Loan THAN SAVINGS BANKS. P.A. WELLINGTON, Sept. 10. Post Office Savings Bank deposits of £lO4 millions, and another £2l millions in the trustee saving hanks,' demonstrate a (praiseworthy degree of thrift among the people. All this money; is at. call. In other words, it can be withdrawn at anj time desired by the depositor. The National War Loan Committee makes a suggestion to these thrifty people who have piled up so many millions as an economic safeguard. Do they really need to keep all these millions ready for instant withdrawal? The Committee suggests that, as a melhou of rendering valuable service to New Zealand in war-time, these depositors should transfer a portion of their nest egg into a war saving account, and thus make the money; available for their country’s defence, until June’ 30, 1947. On that date it will be fully repaid, and may be returned to the'ordinary savings account, in the Fost Office or the trustee savings bank. By the suggested transfer the depositor temporarily surrenders the right to withdraw the money at any time prior to the repayment date, but, in return, gains a clear cash .advantage. The interest on a savings hank deposit up to £5OO is two end ahalf ner cent. For larger amounts the rate is lower. The interest on a national savings account deoosit up to £lOOO is three per cent, a' ten shillings per £lOO cash advantage on a patriotic action, with no risk to the capital involved. NINE AND A-QUARTER MILLION. WELLINGTON, Sept. 10. The amount subscribed to the Victory Loan on Saturday was £132,108, making the total to this date £9 287,732. The objective percentages obtained up to Saturday were as follows: Southland 50 per cent., Auckland 44, Taranaki 31, Otago 28, Marlborough 27, Wanganui 24, Manawatu 22, North Otago 22, Hawke’s Bay 21, Nelson 20, Wellington 19, South Canterbury 19, Waikato-King Country 19, Northland 19, GisborneEast Coast IS, Westland 18, Buller 18, Wairarapa 18, Canterbury 17, Thames-Bay of Plenty 16. 10,000 VISIT NAVAL BASE. AUCKLAND, Sept. 10. A crowd of almost staggering size jammed into the ferry buildings early on Saturday afternoon, and besieged ticket offices for a passage to Devonport naval base. As a means of stimulating interest in the Victory! Loan, the-Navy had opened its base' to the public for the first time since the war started. In two hours, ferries carried 7,000 men, women and children direct to the base or to Devonport. At( the base, it was estimated that the crowd which visited installations a'nd ships, during the afternoon exceeded 10,000.