THE WAR LOAN.

Hawera & Normanby Star, Volume LXXIV, Issue LXXIV, 28 August 1917, Page 4

THE WAR LOAN.

It is worth, record and of interest generally to note several points in connection with the loan. It is satisfactory to learn that the early subscriptions to the Loan are said to exceed in proportion those which were received during the same period for last year's AVar Loan. The figures quoted by the Wellington papers on Saturday, £616,000, including as they do at least two large amounts which make up about half the amount, appear to show that there is need to urge everyone to go into the matter at once as far as each is concerned, and decide promptly what each can do. The early date fixed by the Minister for Finance demonstrates the urgency of the matter, and makes it incumbent on all to think seriously and to act promptly. Closely connected with this is the question raised jn Wellington as to what action Government Savings Bank depositors should take. It might be argued that, the Government already having the use of their money, they should leave it on deposit. The answer to this is that as investment in the War Loan fixes the money fer a definite period of years, and in the Savings Bank it is at call, depositors will be helping the State better by investing in the War Loan. An enquirer ha« aaked for information as to the difference between Inscribed Stock and Bearer Bonds mentioned in the Loan Prospectus. If an amount is invested in inscribed atook there is no bond or debenture issued, the particulars of the amount invested being recorded by the Registrar at the Treasury and interest being paid by warrants issued by the Treasury half-yearly. Th© advantage of inscription is that the public who tnvest have no document which can be lost or stolen, and a transfer of the stock by sale to any other person can only be effected by the holder giving a written notice of transfer to the Treasury. It is intended to issue to those requiring it a certificate which will indicate the amount inscribed, but this document will not be of any value other than an indication of the entry in the Treasury come under this head. A "Bearer Bond" is stock issued with coupons for dividend attached.