NEW ZEALAND WAR LOAN.

Northern Advocate, 8 December 1916, Page 1

NEW ZEALAND WAR LOAN.

In August last, the New Zealand Government issued locally a war loan of £8,000,000. Applications for tho loan totalled £9,355,500, of which amount the five banks doing business hi New Zealand subscribed £4,000,000. Our own subscription was £2,000,000. Contemporaneously with the issue* of this loan, the Government offered for sale at the various post offices in the Dominion war loan certificates. Up to loth November, £1,11-3,000 had been received from the sale of these certificates. STAFF. Since the outbreak of war no fewsr than 369 of the Bank's officers have joined the military forces. The Bank granted leave of absence to 329 of these, with half-pay in the case of members of the Colonial staff and full pay for members of the London staff, the military pay of the latter being on a lower scale than that cf the Colonials. The remaining 40 resigned their appointments in order to join the army, preferring that course rather than to wait their turn to he relieved. The difficulty of carrying on our large business with a steadily weakening staff is one which is shared by practically every employer in the country, but the magintude of our business makes our task proportionately heavier. We have now 200 women clerks at work, and are taking on others.