New Tap Loan Issue
WELLINGTON, Tue. (P.A.)—A new internal loan to provide funds for national development works and partly for repayment of existing loans, is to be opened for public subscription on January 19, the acting-Minister of Finance (Mr Nordmeyer) stated today. The interest rate will be 3 per cent, and the maturity date will be July 15. 1963-65.
The new tap issue will include death duty stock and, except for the maturity date being a year later, the terms of the 1948 issue are identical with those of last year’s loan, which closed on December 15, £21,396,170 being invested.
The 1948 tap issue would oiler the public a gilt-edged investment for surplus funds and was one of the measures aimed at combating monetary inflation, the Minister stated.
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Bibliographic details
Northern Advocate, 13 January 1948, Page 6
Word Count
128New Tap Loan Issue Northern Advocate, 13 January 1948, Page 6
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