VICTORY LOAN

New Zealand Herald, Volume 82, Issue 25215, 30 May 1945, Page 8

VICTORY LOAN

I AUCKLAND RESULTS - RESPONSE IN THE OOUNTRY < Subscriptions made or promised in the Auckland district to the 1946 Yio- i tory Lpan of £25,000,000 now amount I to £3,567,230, equal to 61 per cent of ; the district's quota. This represents a gain of £54,022 on the previous day's figure. The total.subscribed in the Auckland metropolitan district is £3,238,053, < or 59 per . cent of the area's target figure.' Following are the country Centres, with quota percentages in each cawa, which made the greatest, gains yesterday:— Tuakau, £8893 "(62 per cent) ; Pokeno, £3400 (59) ; Papakura, £19.207 (59) ; Kumeu. £3783 (57.); Patumahoe, £4644 (56); Waiiuku, £28,166 (55); Papatoetoe, £17,176. (53) ; Pukekohe, £36,975 (52); Manurewa, £9346 (62); Howick, £2109 (47). ' : > In the Northland loan district subscriptions how total £233,344, equal to 51 per cent of the district's objective. The Te Kopuru centre, with £9OIO subscribed, is the first to obtain its quota. Subscriptions in the Whangarei-Kamo centre now total £95,480, or 51' per cent of the objective. Of.the Waikato-King Country loan district's quota of £1,348,000, £606,641, or 49 per cent, has bekn subscribed. Hamilton has Contributed £221,916, or 51 per cent of its quota. Following are the country centres which have made the greatest gains:—Raglan, £6856 (85) < Pukemiro, £2170 (72); Ngaruawahia, £18,429 (54);- Ongarue. £3265 (54); Owhanga, £2137 (53); Rotorua, £44,314 (43); Morrinsville, £32,830 (42). NEW ZEALAND TOTAL DISTRICT PERCENTAGES (P.A.) WELLINGTON, Tuesday The Reserve Bank announced tonight that the total for the 1945 Victory Loan is now £14",498,072. The cash subscriptions during the day amounted to £247,602, including £7549 of; redeemed' promises. Amounts and percentages of (objectives of the 20 war loan districts are now as follows: — Wellington; £2,543,884 (69 per cent); .Auckland, £3,644,822 (62); Southland, £788,588 (62); Wairarapa, £229,142 i(59); North Otago, £142,791 (59); Taranaki, £545,578 (58); South CanterIbury, £342,688 (57); Otago, £1,259,780 (56); Wangauui, £436,395 (55); Hawke's Bay, £515,416 (54); GisborneEast. Coast, £233,111 (54); Northland, £244,148 (54); Marlborough, £131,138 (51); Waikato-King Country, £688,388 (51); Thames-Bay of Plenty, £283,042 i(51); Nelson, £262,360 (50); Mana'wat.u, £554,384 (50); Westland. (£165,867 (50); Cantefbury, £1,436,648 (48); Biiller. £49.902 (48). SLOW PROGRESS BEING MADE COMMENT BY COMMITTEE Auckland's slow progress toward filling 'its quota of the 1945 Victory Loan was ' unfavourably commented upon at a meeting of the Auckland Central Loan Committee yesterday. Various members expressed the opinion that the policy adopted at the outset of trying to secure one-half the total on the ppening day had been a mistake. One reason why Wellington's progress appeared more favourable than Auckland's was that many national organisations had their contributions credited to that city, stated Mr F. E. Sutherland. Discussing bank deposits, he said that the depositors' balance throughout the Dominion in the Post Office Savings Bank a*nd the trustee savings banks had increased by £68,000.000 since the outbreak of war. In addition, trading bank balances were increasing. Much of the money, tied up might be intended for the payment of income tax, said the Mayor, Mr J. A. C. Allum. However, the loan must be fully subscribed. In a free community those with money available were charged with_ the duty of investing it. It was realised, however, that many large organisations could not now invest to the same extent as they had in previous loans. Mr J. Melling, honorary secretary to the committee, reported that the Air Force band would not now be available for the Allied Nations parade to be held in the city on Friday week. Probably there would be three other bands, however, and after the parade they would assist in the street sales of war bonds. THE SMALL INVESTOR RESPONSE NOT GOOD ENOUGH (P.A.) " WELLINGTON, Tuesday The third week of the Victory. Loan campaign is time; for a frank stocktaking contrasting the campaigning effort with the cash results. The broad conclusion, states the National War |,oan Council, is that although the loan has unqualified support from all classes of the community, as expressed in words, too many New Zealanders are still in that class -which the fighting men call the "Hurrah crowd," standing on the side-lines cheering, but failing to do their own duty. This is how the campaign picture presents itself to the patriotic, self-deny-ing people who are working hard for those remaining millions —the loan is £11,000,000 short of the objective. Scrip for £9,661,000 has been taken up by 5455 investors in war loan bonds, and national savings deposits account for £4,426,000. At the corresponding date in last year's loan 7274 investors had contributed £6,173,000. Our stocktaking does not give us a : very rosy picture. It shows that while ! large amounts have been invested in I this loan, individuals and firnis of • moderate means are not investing as , early as they did in the last campaign. ■ Compared with the number of possible • investors in our population of 1,600,000, • or even the 40,000 contributors to the i last war loan, this suggests lots of good i intentions and 1,000,000 people or more doing nothing.