DEFENCE LOAN

Manawatu Standard, Volume LVII, Issue 127, 30 April 1937, Page 7

DEFENCE LOAN

SUBSCRIPTIONS OPEN. FOR £100,000,000 ISSUE. POST OFFICE PARTICIPATES. (United Press Association. —By Electric Telegraph.—Copyright.) (British Official Wireless.) Received April 30, 11.30 a.m. RUGBY, April 29. The subscription lists opened this morning for the new issue of £IOO,000,000 of national defence bonds offered at a price of £994. The average life of the loan is just over nine years, giving an average yield of £2 11s Gd per cent. The amount payable on application is £5 per cent., the remaining instalments being spread over tiie next three months. The Post Office is participating in the new issue, and the amount of bonds subscribed through this department will be additional to the one of £100,000,000 to be subscribed through the Bank of England. ~ Subscriptions to the Post Office enable bonds to become available to the small investor, and must not exceed £IOOO each. IMPERIAL DEFENCE. STRAITS SETTLEMENT’S GIFT. (British Official Wireless ) RUGBY, April 2S. The Governor of the Straits Settlements has reported to the Colonial Secretary that the Legislative Council unanimously adopted on Monday a motion for a gift of approximately £58,000 as a contribution toward the cost of Empire defence. Mr W. Ormsby-Gore (Colonial Secretary), in informing the House of Commons, expressed the Government’s appreciation of this further generous gilt, from the colony and of the spirit of co-operation of which it was a practical example. THREE NEW BATTLESHIPS. . CONTRACTS ALLOCATED. (British Official Wireless.) RUGBY, 'April 28.. The First Lord of the Admiralty, Sir Samuel Hoare, announced in the House of Comomons that contracts for the three battleships of the 1937 programme, which will be named Anson, Jellieoe and Beatty, were being allocated respectively to Messrs Jolin Brown, Clydebank; Swan, Hunter and Wigham Richardson, Walkend-on-Tyne, with machinery by the Wallsend Slipway and Engineering Company; and the Fairfield Shipbuilding and Engineering Company, Govan.