FINANCE MINISTER CONFIDENT.

Lyttelton Times, Volume CXVII, Issue 17251, 19 August 1916, Page 9

FINANCE MINISTER CONFIDENT.

[From Our Correspondent.] WELLINGTON, August 18. Tho prospects of tho eight million loan are bright, states the Minister of Finance, who spoko to a. representative if the “Lyttelton Times” with confidence of tho result, which ho hopes • io announco on Monday night. Public interest in the loan must be Intense. Piles of telegrams and letters about it have c6me to Sir Joseph Ward, who has been unable to spare time for ordinary Ministerial business • till late each afternoon. Many intending investors take pride in telegraphing to the Minister of Finance * stating how much they are prepared to help the war finances. The loan, closes on Monday. All late applications wi]l be telegraphed to Wellington to enable an announcement of the result to be made promptly. The war certificate system, organised by the Post Office, will he continued a fter that date to meet the convenience of small investors who may be paid sums at the end of the month or hart) .other reasons for waiting. “Our young Dominion has reached its manhood,” declared Sir Joseph Ward- _ “It has raised and equipped an army, with whose valiant deeds the world already d 8 ringing. It has provided an efficient unit in the great Navy guarding our common heritage', the seak. Now to complete in all respects its full claims to that selfreliance characteristic of every selfcontained people, it proposes no longer . to rely on borrowing all the capital required from abroad, but to prove tfiat besides men, organisation andi courage, it has within itself the capital to meet a considerable portion of the extraordinary expenditure imposed by , the great war.” THE TIME OF CLOSING. [Per Press Association.] WELLINGTON, August 18. Some .misapprehension appears to exist regarding the time of closing the loan. Sir Joseph Ward tonight'said that be desired it made clear that there was no change in the time of closing the main loan eo far as applications for bonds of fifty pounds anil upwards were concerned. These would close definitely on August 21; The extension only applies in case of small investors in certificates of £1 to £SO, issuing through the Post Office. > ; FOURTEEN' TEAR RONDS.: \. ; 1 [Per Press Association.] WELLINGTON, August 18. , Interviewed to-night Sir Joseph Ward -s stated that as some intending subv scribera to the War Loan did not apparently see the value of investing for twenty-five years instead of fourteen he would- meet the views of those who 'want to invest for fourteen years by putting them in the same position v aiid accept any one sum, up to £20,000, to bear interest from September, providing their application is in on or 'before August 21. At the same time he expressed' the opinion that in all probability an opportunity for a longer term *apon such favourable conditions was not likely to arise in this country for many years to come. As the bonds would be readily saleable and in. all probability in tho next few years would be at a premium he could not understand why anybody should by preference select the shorter instead ot the longer term. From an investment point of view the advantage was on the side of the longer,period..

EXTENSION Ol' TIME FOR ISSUE . OF CERTIFICATES. * ' ' MONDAY. LAST DAY. FOR BONDS.