£10,000,000 War Loan Passes Aim

Northern Advocate, 5 September 1941, Page 3

£10,000,000 War Loan Passes Aim

[Special to “Northern Advocate”] WELLINGTON. This Day. According to a stateme it made by the Minister for Finance (Mr. .Nash), the £10.000,000 war loan was oversubscribed by £220,620. “The loan was a special eil'ort and it has been a splendid success,” he said. I want to thank the Leader of the Opposition and everybody who lias helped. It is still urgently necessary to put everything possible into the national savings scheme, which will continue as before, but on the present evidence we will not have any worry over the money side during the present financial year, now that this money has come in." Mr. Nash said the number of subscribers to the 1946 loan was 5016 for a nominal amount of £3.356,130, while subscriptions for the 1951-54 loan totalled 5886, the nominal amount being £6,864,490. The total subscribers were 10,902 for a nominal amount of £10,220,620. District Contributions Mr. Nash said national institutions applied for £4,661,000 and the various districts for £5,559,620. The district totals were: Auckland, £1.517,420; Waikato and Bay of Plenty, £198,660; Wanganui, Taranaki and j New Plymouth, £274,320; Hawke's Bay and Poverty Bay, £287,130; Wellington, | £1,157,300; Canterbury, £454.860; | Ctago, £430,350; Nelson, West Coast! and Marlborough, £124,560; Southland, £225.360. An amount of £889,660 had still to be analysed for districts. Included in the district totals were the following subscriptions: Local! authorities, £270,500; investment and trust companies, £190,000; stock and! station agents, £106,000; trustee savings j banks, £634.000 (Auckland, £500,000, | New Plymouth £15,000, Hokitika] £4COO, Dunedin £75.000, Invercargill! £40,000). j Smaller Subscriptions Mr. Nash added that another inter- | esting series of figures was that show- j ing subscriptions of under £IOOO, J probably subscriptions from £lO to j £SOO. These were Auckland, 347,320: j Waikato, and Bay of Plenty, 116.660; j Wanganui and Taranaki, 162,820; j Hawke’s Bay and Poverty Bay, 120.880; j Wellington, 447.220; Nelson, Marl- j borough and Westland, 618.880; Canter- ! bury, 199.370; Otago, 131.500. and | Southland, 102.260. | The Minister concluded by saying ] that the £10,000,000 war loan was ai special effort, and the Government still hoped the National Savings Scheme j would continue at an expanding rate, j