LOCAL LOAN CLOSING.
END OF 51 PER CENT. ISSUE. LOWER RATE FROM NEXT MONTH. [BY TELEGRAPH. —PRESS ASSOCIATION.] WELLINGTON. Tuesday The closing of the 5i per cent, loan, which was- opened last October, was announced by the Minister of Finance, Hon. ,W. Dowuio Stewart, to-day. The debentures had a currency of 10 years and interest is subject to income tax. The Minister stated that the issue will close as frbm August 31. From September 1, the sale of inscribed stock and debentures at per cent., with five years' currency, will bo resumed. The 5£ per cent, issue was for an indefinite amount. Up to March 31, the subscriptions totalled £4,883,705, the bulk of the money being devoted to the financing of State Advances, and £650,000 being used for public works and hydroelectric purposes.
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Bibliographic details
New Zealand Herald, Volume LXIII, Issue 19415, 25 August 1926, Page 10
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133LOCAL LOAN CLOSING. New Zealand Herald, Volume LXIII, Issue 19415, 25 August 1926, Page 10
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