A GILT-EDGED SECURITY.

Hawera Star, Volume XLV, 16 January 1926, Page 10

A GILT-EDGED SECURITY.

OJIRISTCHURICH DRAINAGE BOARD DEBENTURES. oj PER CENT. INTEREST. Applications are now being received by the Christchurch Drainage Board for debentures on behalf of the second instalment of £200,000 of its loan, of £700,000. Interest at the rate of £5 15s per cent, per annum will be paid, and also exchange on all accepted application money. Both principal and interest are payable free of exchange at any branch of the Bank of New Zealand within the Dominion. The Debentures will be issued in the following- denominations at the option of the purchaser: £IOO each, £SOO each, £IOOO each. Applicants must state clearly which particular value of denomination is required. The security is a gilt-edged one, both debentures and interest being secured by a special rate of one farthing in the £ on the capital value of an area valued at £16,566,100, and in the £ on the capital value of an area valued at £7,167,696. This area comprises practically the whole of the City of Christchurch and a large portion of the suburbs. Application money w-ill be received at the office of the Christchurch Drainage Board, 198 Hereford -Street, Christchurch, in cash, bank dr.aft, or cheque. ' A brokerage of 10s per. cent, will be paid! to members of recognised Stock Exchanges, and also to- Banks and Solicitors doing business in the Dominion on sales actually completed by them. 'Copies of the Prospectus will be gladly supplied free on application.