Page 3 Advertisements Column 2

Lake Wakatip Mail, Issue 4487, 1 October 1940, Page 3

yy DOMINION OF NEW ZEALAND NEW ZEALAND 60VUNKENT WAR LOAN, 1953 Authorised to be raised in accordance with the provisions of the New Zealand Loans Act. 1932, whereby the interest and principal are a direct charge upon the public revenues of the Dominion. Issue of Stook Repayable Ist October, 1953 Proceeds to be used for equipping and maintaining the armed forces of the Dominion, and for other war purposes. Stock of this issue is non-interest bearing up to the ist October, 1943. Interest will be paid thereafter at the rate of x\ per cent, per annum. A first interest payment of £l-5-0 per cent, will be made on the ist April, 1944. PRICE OF ISSUE: £IOO per cent. Payable as follows : On Application - - - . £3O per cent. On 16th December, 1940 - - - £4O per cent. On 25th March, 1941 - - • £3° per cent.

BASIS OF SUBSCRIPTION, The Minister o£ Finance has indicated that for the purposes of the Finance Emergency Regulations 1940 (No. 2) he will not regard any person as having subscribed in due proportion to his means unless such person has subscribed to this Loan at least the amount of the income-tax payable by him in respect of income derived during the year ended 31st March, 1939, being the tax normally payable in February, 1940, decreas'd in the case of individuals by £SO and in the case of companies by £7O. For the purposes of computing this minimum subscription, which must be calculated to the nearest multiple of £lO, any income that was free of income-tax in the hands of the recipient shall be deemed to have been subject to such taxation. The tax-free income which would be taken into account in this way includes dividends other than those from companies incorporated in New Zealand, interest from tax-free Government Stock and from tax-free company debentures, tax-free income derived from abroad, and also farming income where the land used had an unimproved value of less than £3,000. TRUSTEE PROVISION. The Trustee Act, 1908, authorizes trustees to invest in Government securities, and special provisions affecting trustees are contained in Regulation 20 of the Finance Emergency Regulations 1940 (No. 2), the effect of which is that no obligation or limitation imposed on any trustee by virtue of any trust, instrument, or otherwise shall prevent or excuse him from compliance with any direction, notice, or requirement under those Regulations. RIGHT TO CONVERT EXISTING INTEREST-FREE LOANS. Any person who prior to the issue of this Prospectus has made a loan free of interest to the Government for the purposes of the War Expenses Account established under Part I of the War Expenses Act, 1939, may apply to convert such loan in whole or in part into an equivalent amount of stock of this issue, in which case (but not otherwise) the, amount of such original loan thus converted will be regarded as a contribution to this Loan. Any person who makes or has made a gift to the War Expenses Account may reduce his contribution to this loan by the amount of such gift. The RESERVE BANK OF NEW ZEALAND gives notice that, on behalf of the Minister of Finance, it is authorized to receive applications for the issue of stock in terms of this Prospectus. OBJECT OF LOAN. The proceeds of the issue will be paid into the War Expenses Account established under Part I of the War Expenses Act, 1939. REPAYMENT. The loan will be repaid at par at the Reserve Bank of New Zealand, Wellington, on the Ist October, 1953, but any stock issued to a person in response to an application made in terms of this Prospectus will be accepted at par at any time before maturity in payment of death duties in respect of that person’s estate. The ultimate repayment of the Public Debt of the Dominion is, in the main, provided for under the Repayment of the Public Debt Act, 1925, in pursuance of which New Zealand’s debt-reduction resources shall be applied in the purchase and redemption of New Zealand Government securities at or before maturity. For this purpose there is issued annually out of the Consolidated Fund a sum equal to k per cent, of the Debt affected, and to this is added a sum equal to interest at 3i per cent, per annum of the Debt paid off under this scheme. The Repayment of the Public Debt Act applies to the major portion of the Dominion’s Debt, certain loans for which adequate sinking-fund provisions are specifically provided, and also the portion of New Zealand’s War Debt funded with the Imperial Government, having been excluded from the Debt Repayment Scheme. SECURITIES. New Zealand Government Stock transferable by Memorandum of Transfer will be issued on or after the 25th March, 1941, on surrender of fully-paid Allotment Letters. THE LIST OF APPLICATIONS WILL

McNeill & Tripp, Ltd. For Your Spring Cleaning we suggest you inspect our Stock of - -» Oil Mops from 5s 9d. Hair Brooms from 4s 9d. Dust Cloths, 6d each. Gates’ Cleanser 10d and 1/6. Chemico 1/- and 1/6Dynamels 2/3 tin. Floor Stains and Mpt tins. Paints in lib, 21b, t£gal and Igal tinsAluminum in and ]4}b tins. Paint Brushes, &c. We have Everything that is Required. ANGLERS ! We can supply at TOWN PRICES, all Fishing Material, including Torches, Bulbs & Refills. Save postage and receive Quick Delivery by patronising us. Sports Outfitter, W. H. Nelson QUEENSTOWN PHONE 33M