LONG-TERM MORTGAGES.
BANK OF NEW ZEALAND’S STATEMENT. NO OPPOSITION TO GOVERNMENT “ ISSUE. The head office of the Bank of New Zealand has issued to the Press of the Dominion a statement announcing that the amount of its long-term mortgage loans at 30th September, 1928, was £559,277. Some £150,000 of further loans arc in course of arrangement. In. connection with the issue by it he Treasury some months ago of £400,000 of Rural Advances Bonds, the Bank absolutely denies the statement which has been in circulating that it issued a circular to its managers reading: “The niwiwgex must not-solicit application for these, bonds as the bank is desirous of building up its own fixed deposits, and I do not wish application forms or prospccuiscs displayed in the office. P.S.— Posters may be exhibited in the bank chamber.”
On the other hand, the instruction issued was, it is stated, as follows: — “Branches will please bring the issue under the notice of any person who may bo seeking air investment. The bonds would give a Government secured investment with a return (including redemption) of £5 9s Id per cent. It is to the interest of the Bank that the loan should be successfully placed;”
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https://paperspast.natlib.govt.nz/newspapers/HAWST19281017.2.45
Bibliographic details
Hawera Star, Volume XLVII, 17 October 1928, Page 7
Word Count
201LONG-TERM MORTGAGES. Hawera Star, Volume XLVII, 17 October 1928, Page 7
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