Internal Loan Applications Total £4,704,000

Northern Advocate, 3 June 1939, Page 3

Internal Loan Applications Total £4,704,000

[Per Press Association.—-Copyright.} CHRISTCHURCH, This Day.

- A total, of £4,704,000 approximately,“ was subscribed for the Government’s internal loan announced a little more v than a fortnight ago. t ‘w =•>:■; The loan was of £4,500,000, and whs offered in two sections, each of which relumed more than 4 per cen,t :1.., J The Prime Minister, Mr Savage, who is Acting-Minister of Finance, said that accordingly applications for sums up to £30,000 will receive allotment in full, and applications for amounts of more than £30,000 will receive 90 per cent, of the total applied for. “The result is very gratifying, and I wish to thank subscribers to the loan for the assistance they have rendered to the State,” said Mr Savage. “I am satisfied that members were actuated more by this thought, than by the thought of pecuniary gain to themselves.” ' , ' ' j 4 ' Inquiries made from Mr R. C. Addir son. chairman of the Associated Banks, as to subscriptions made by the banks to the Government’s £4,500,000 loan, failed to elicit any further information than that it had been accorded strong support by the trading banks. The precise figures are not. obtainable, but at the moment it is. expected the banks will have taken up probably £ 1,000,000 of the loan.