LOCAL SUBSCRIPTIONS.

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

LOCAL SUBSCRIPTIONS.

BRISK BUSINESS AT POST OFFICE. The officer in charge of the local branch of the Government War Fund stated last night that the officials pad had a very busy week, and* that yesterday was a particularly heavy day. No figures are yet available. Quite a number of npplioanfis have paid their loan money in full, while the majority havo subscribed the initial 25 per cent. , The officer wishes to state that theTO i 3 no limit to the amount that may be subscribed to the five years’ war cerificate. An impression prevails that there is a limit of £SO, hut that is not so. The amount is unlimited. In regard to minor accounts, thlat is for children under seven years of age, it is mentioned for general information that money in that section may bo invested in war certificates. Tho local office will not be open this afternoon, the hours for transaction of business during the day being from 9 a.m. to noon and from 7 to 8.30 P Withdrawals may bo made from the savings bank account of depositors at tho Chief Post Office, Christchurch, between 7 and 8.30 p.m. to-night for the

purpose of investment in War Loan certificates. * - AT ASHBURTON. From inquiries made at the Ashburton Post Office it was learnt that up to Thursday evening £6OO worth of loan certificates had been taken up. Several people had been making inquiries, and it is anticipated that many more applications would be made by the end of the week. Up to the present very little business has been, done at tho post office and banks in connection with the bonds. The circulars issued by the Department, are being distributed throughout the borough and county by the letter-carriers, and special men are them to the freezing works, woolleu mills and other factories. The managor of a local bank stated that up till yesterday £looo’worth of bonds had been taken up at his hank, whilo others, >yho were reticent in stating amounts, indicated that substantial sums had been taken up. ’The general opinion of local bank managers appeared to ho in favour of aa extension of time for tho closing of applications. AT RANGIORA. Tliero has been a very brisk demand for War Loan certificates at the Rangiora Post Office. The first and a second supply of certificate forms woro speedily exhausted and orders have been booked for nearly the whole of a much larger supply, which is expected to he available this morning. Of the smaller investments the favourite subscription seems to ho £8 to obtain a £lO certificate. A considerable number of 16s certificates have also been issued, and there lias been a fair demand for the £SO bonds. Ton were sold in one lot. Post Office Savings Bank accounts havo net been drawn 1 upon to any extent to provide the molney invented, bait the •withdrawals are expected to be very mueb heavier now that the date of the closing of certificates has been extended beyond- Monday. The people of the borough and neighbourhood appear to have just awakened to the importance of the loan as a good and convenient means of investment of savings, and as another opportunity for one to do his or her share towards the winning of tho war. \ • [Pir Press Association.] FEILDING, August 18. The Feilding Patriotic Society is investing £SOOO in war certificates. There was very large business in certificates and bonds at tho post office, tri-day. A public meeting was held to-night and addressed by prominent residents and farmers, urging support to the loan. LARGE INVESTMENTS. 1 BONDS FOR £IO.OOO. TAKEN UP BY KAIAPOI WOOLLEN COMPANY. Tho following motion was carried unanimously at the annual meeting of shareholders in tho Kaiapoi Woollen Manufacturing Company yesterday; “The directors of the company being unanimously of opinion that this company should 1 assist the New Zealand Government by subscribing to tho War loan, this mooting of shareholders hereby authorises the directors to apply for £IO,OOO worth of w*ar bonds now being issued at 4) per cent free of incomo tax, and that the sum of £16,000 be withdrawn from the company’s reserve capital for that purpose.” INSURANCE COMPANY’S SHARE. [Per Press Association.] ' DUNEDIN, August 18. ’The directors of the Standard Insurance Company have decided to invest £20,000' in the War Loan. PALMERSTON NORTH, August 18. Tho Patriotic Society decided tonight to invest £IO,OOO in war bonds. War Loan sales at the Post Office today aggregated £3346. EMPLOYERS ASSIST. THE D.I.C.’S OFFER. Tho directors of the D.I.C. have decided to assist and encourage the employees of the firm to invest in the War Loan. The company will purchase on behalf of any employee any .amount of war certificates from £1 tip to £SO worth, that is to say it will expend from 16s to £4O. This sum is to bo repaid Is in cash out of every 16s, the balanro in equal monthly instalments extending over fifteen months. By this means any employee paying Is in cash and Is per month for fifteen months wiLl receivo a.t the end of that time a certificate entitling 'him to receive £1 at tho end of five years from the date of payment of his first shilling. Similarly by . the payment of 10s cash,and 10s por month for fifteen months he will receive certificates entitling him to receive £lO av the end of five years. In tho event of any employee leaving the company before the completion of liis payments lie will havo the liberty of continuing to pay .his monthly instalments, but if he should be unable, to do so, the company will pay to him the amoTmt he has already paid, with 4$ pec cent interest added, and the company will take over his certificates.

ANOTHER COMPANY’S SCHEME. Mr J. G. Rule, acting Chief Postmaster in Christchurch, is distributing copies of a circular submitted by a leading firm in this city to its employees, in which the firm, in order to assist tho employees to take up tho War, Loan, offers to advance sums free of interest. Tlio terms are as follows, the time to repay in each case being thirty-two weeks:—

Mr Rule expresses an opinion that this scheme may help firms that wish to make the loan a success. CANVASS OF BUSINESS PLACES. GOVERNMENT AGENT IN CHRISTCHURCH. Mr J. J- O’Gorman, district supervisor of the Government National Provident Fund, has received instructions, acting under advice of Mr J. G. Rule, Acting-Chief Postmaster, to canvass the business and commercial places of the cjtri ui tho interests of , tho War Lt fTi s Mr CGofman’s intention to deliver addresses to employees, urging upon them the advisability and necessity of supporting the Dominion’s new ventMre. He will also endeavour to get employers to adopt the principle endorsed by tho Christchurch Tramway Board of advancing the money to .employees and deducting it by small weekly payment from tho wages. Mr O’Gorman commenced his duties yesterday.

Value of Pum required Sum repayable Certificate. to Purc.kase. "Weekly. £ X s. d. s. d.' 1 0 16 0 0 6 2 1 12 0 i <j 3 2 8 0 1 6 -l 3 i .0 2 0 1 0 0 2 ib 0 i 16 0 3 0 5 12 0 » 6 a 6 S 0 4 0 0 7 i 0 4 6 10 6 0 0 5 0 li S 16 0 o 6 10 9 12 0 6 0 13 10 s 0 6 6 It 11 i 0 7 0 35 12 0 0 7 6 , 3fi 10 16 0 S 0 17 13 12 0 a 6 18 H a 0 9 0 19 15 4 0 9 6 20 16 0 0 10 0