THE WAR LOAN.

New Zealand Herald, Volume LIII, Issue 16310, 17 August 1916, Page 9

THE WAR LOAN.

INTEREST MAINTAINED.

SAVINGS BANK INVESTMENT.

The interest aroused in the New Zealand Government war loan among the public of Auckland was maintained yesterday, the officials at the war loan department at the post office reporting brisk business throughout the day in war certificates, while applications for war bonds showed a slight increase on the figures for the previous day. A large number of inquiries in regard to the loau continue to bo made.

Prior to his departure from Auckland | on Tuesday last the Prime Minister emI phasised his desire that the loan should j be a success, and remarked upon the du.y I which lay upon citizens "in" the matter. I "The Government are asking for this i money because they want it for the pur- ! poso of carrying on New Zealand's share lof the war," said Mr. Massey. "They want it for an object that must appeal Ito all patriotic citizens. The placing of I this loan in the Dominion gives an opportunity to everyone to assist in the struggle in which the Empire is engaged, and. I feel confident, is an opportunity which will be taken advantage of by people in every section of the community. New Zealand has done well in other matters connected with the war. In soldiers and supplies no part of the British Dominions has done better, and the Government now ask that the citizens of the country may provideas many are well able to dosome of the 'silver bullets,' which are just as necessary to success as the other requirements of a military campaign." Another large subscription to the loan; was made yesterdav, the trustees of the, Auckland Savines Bank deciding to invest a sum of £100.000 in war bonds. This decision was arrived at at a special meetin?. There was some suggestion that the amount should have been larger, but the trustees agreed to retain a strong reserve for any calls likely to be made upon them by depositors for war loan certificates.

Tt was decided at the monthlv meeting ! of the committee of the Society for the ; Protection of* Women and Children and : the Prevention of Cruelty to Animals, to I invest an outstanding sum of £700 in war ! bnndfc. This entails some sacrifice, as i the soriety pays no income tax, hut it was I resolved to make the investment on patri- j otic grounds. >

PAYMENT OF INTEREST.

AMENDMENT OF CONDITIONS.

[BY TELEGRAPH. rPFSS ASSOCIATION.

WELLINGTON. Wednesday. i Speaking of the war loan to-night, Sir j Joseph Ward said : " Representations have I ' been made to me by trustees and others< I who desire to invest moneys on behalf !of trust beneficiaries, and they point out | that to break investments now bearing' ; interest and not to receive interest from , i the Government upon the whole amount I would result in loss to those whom they . I represent. I recognise that the difficulty ! ;is one that should be met, and I have j given instructions to meet cases not only iof trustees, but of anyone who desires" to : apply for investment in war debentures, . that interest will be allowed in full on j applications up to £20,000 —that is, a full ; ■ six months' interest dating from Septeni- ! ! ber 1, provided the applicants apply not ; j later than August 21, and pay the full ' amount for which they are applying on ior before the end of the present" month. ! ! Those desiring to invest for larger sums i will be dealt with as announced in the ! prospectus. * I have reason to believe , I that, speaking generally, it suits the ' j larger applicants to have their payments : spread in instalments over the period ! named in the prospectus—that is, six ! ; months." i

OUTLOOK DECIDEDLY ' HOPEFUL.

STATEMENT BY SIR JOSEPH WARD.

[BT TELEGRAPH. —OWN CORRESPONDENT.]

WELLINGTON. Wednesday,

At the instance of a prominent bnsiness I man in Wellington, it was suggested to' Sir Joseph Wait), Minister for Finance, | to-day, that moans might be discovered ' by which people who had money on fixed ' deposit in building societies and other ; institutions for a definite period could j release those amounts and invest them ; in the war loan, and that otherwise they i would not bo able to invest. I " We cannot commandeer anybody's or ; any company's money," said the Minis- j ter. "It is a patriotic loan for war ! purposes, appealing to the finer side of | the people of New Zealand, and it must j be floated with their goodwill by voluntary j application. To commandeer money from any source against the will of any per- i son concerned would be against the spirit j we want to see permeating the whole ! country. Further, from information which i has reached me from various parts of the ! Dominion, I am convinced that the out- j look is decidedly hopeful, and that the expectations of those responsible will not suffer disappointment." Sir Joseph Ward explained that if the original owner loses a loan certificate new j i ones can be issued after a simple procei dure. Tn such cases the new certificate' : alone will bo entitled to interest, and to I jbe current. The Minister said he was: [ considering a proposal to open the savings | banks on Saturday evenings to facilitate withdrawals by those wishing to invest in the war loan. INQUIRIES IN CHRISTCHURCH. LARGE AND SMALL INVESTMENTS. [bt telegraph. —OWN CORRESPONDENT.] CHRISTCHURCH. Wednesday. The local demand for participation in the war loan still continues good, and not even the distractions of race week have ! sufficed to diminish the demand, and in- I quiries for certificates have been main- | tained. There are signs that among both j large and small investors the loan is favourably regarded. The officials at the, money order office have been kept busy i answering inquiries and satisfying the de- j mands of those wishing to make allotments.

ADVOCACY OF THE LOAN

MEETINGS IN CHRISTCHURCH.

[nr TELEGRAPH.— ASSOCIATION.]

CHRISTCHURCH. Wednesday.

In response to Sir Joseph Ward's telegram, public meetings are being convened here to further the interests of the war loan.