Attractive To Small Investors

Northern Advocate, 16 May 1939, Page 8

Attractive To Small Investors

[Per Press Association. —Copyright.] WELLINGTON, This Day. > “The rate should be satisfactory, \ as investors are already trading on L- similar returns, and it is not (a large loan,” said the chairman of the Wellfejngton Stock Exchange, Mr Andrew Hamilton, commenting on the general ; terms of the public internal loan to | be raised by the Government. I? Mr Hamilton said he had not had i an opportunity to study the full dell tails in the prospectus, and his remarks were based on his reading of main features. “At least the Government has made \ the loan attractive in the method of | subscriptions for the small investor \ as well as for the large one,” he said. ■£. “There are various detailed provisions which will particularly assist the future disposal of small inves- | * tors’, holdings.” Capital expenditure on defence M works, said Mr Hamilton, should de- . finitely appeal to the investor. Esp sential Public Works 'and develop-f-3 mental schemes were necessary, proA vided they were kept within reasonable bounds. It had been generally ||; anticipated that a larger sum would hatf’e been called for, and the, present amount was not out of bounds in comparison with previous issues. “It is pleasing to see that the iargT est borrower in the country has met | the market rate,” Mr Hamilton added. “We hope this move shows readi- . ness on the, part of the Government to appreciate the difficulties of local • authorities, and is the foreruaeer of

the removal of the present restriction of the rate of 3£ per cent on local body issues.”