LIBERTY LOAN

New Zealand Times, Volume XLII, Issue 9756, 4 September 1917, Page 6

LIBERTY LOAN

MAGNIFICENT RESULT WONDERFUL RESPONSE IN LIMITED TIME UPWARDS OF £15,750,000 IN’. STATEMENT BY THE FINANCE MINISTER. "The War Loan has been largely over-subscribed,” stated the Minister for Finance (the Eight Hon. Sir J. G. Ward) to a "Times” representative who waited on him late last night to learn the result of the issue of the Liberty Loan of twelve millions sterling. “Over 153 millions,” added Sir Joseph, “is the amount as advised ifioui the different parts of the country to-night; but, when all the returns cotno to band, the final result I will vary to some extent, probably well on the higher side. Of that amount, £3,116,030, or about one-fifth of the. total, has come in through'the Postal Money Order Offices; and there is more yet to come in. The result is very gratifying, the loan having been, on the market ■ about . three weeks only. Some people thought the time was too short, but the splendid result shows what a wonderful response can bo made in a limited time when the people get to work in real earnest. A PINE SPIRIT DISPLAYED. “There has been a fine spirit displayed -by the people throughout the Dominion; and l.take this opportunity of specially thanking tho press for the great assistance they have rendered, quite apart from any advertisements that have appeared in their columnsTheir daily article* in reference -to the loan, I am quite satisfied, have helped bo keep it before the public in a way that could not otherwise have been accomplished, i with to specially tnank, too, the generous body of volunteers who have made tho work of helping tho loan their particular concern; and I want also to acknowledge the service* that have been rendered to tho country by tho various organi[sotions to whom I wrote in the earlier ’period of tho loan. In them 1 include the clergymen of tho various denominations throughout tho Dominion, the 1 Mayors of tho various boroughs, the chairmen of the county councils, tho ■members of the local public bodies, the a/tool teachers, the friendly societies, |imd the patriotic societies. "I am unable to give the, amount subscribed in each of the principal cities and town* to-night, as the infori motion will not be available until to- ' morrow. The classification will ne<»atarily take same time. 1 have nothing further to say, except to acknowledge lbs good service and assistance that bas been given in connection with the flotation of the loan by the Secretary to the Treasury (Colonel Campbell), tho Secretary to the Post Office (Mr (V. R. Morris), and the officers' of their departments, all of whom throughout the country have worked . <ery Lard and unitedly to make the lloan a success. It would be invidious of me to name specially.:any of’.the many organisations who voluntarily undertook to assist the loan. ■ Where all have done so well, it would hardly be proper for me to do so. THIRTY MILLIONS RAISED IN , TWO YEARS. “I would like to say here, that the last loan raised in New Zealand closed «n August 20th last year, so that in. just over twelve months twenty-seven millions have been raised, in addition to which it is to be remembered that two millions were raised for public works the year before. Including contributions from tho Post Office not given to the war Joans, that mean* that something over thirty millions has been raised in the two years. I have not got the exact amount available to. night, bat that will be well within the mark. It is a wonderful tribute to the -financial position of this country that, under the altered conditions duo to the war, so much has been raised in so short a time. I can only say now’that the result of the present appeal for funds for war purposes is magnificent. NOT YET TOO LATE. “In conclusion,” said Sir Joseph Ward, “to those,people who from any cause have been prevented from putting in their applications, or bay* been delayed in so doing through absence from their places of business or residence, and to the companies, friendly societies, and trustees who cannot put theirs xn till the enabling clauses of the Finance Bill have been passed, I would add that reasonable time will he given them to send in their applications.” PROVINCIAL REPORTS. Press Association. AUCKLAND, September 8. The Auckland total of subscription* to the War Loan so far as compiled i* over two millions. Several subscriptions are to come in. The amounts passed through the banks, amounted approximately to- a million and through the Post Office to £532,000. The following large' subscriptions were made to-day:. New Zealand and South British Insurance Companies each £IOO.OOO. are not included in th* banks’ total. CHRISTCHURCH, September 8- , Very brisk War Loan business wa* done at the Post Office to-day, the building being invacted by crowds of peop’e. The following investments were made, to-day:—4+ per cent. War R'>”ds £160.250; War Loan Certificates, £29 332: Poet Office War Bonds, £52 500: total for the da v, £212,082. PALMERSTON NORTH. Sept. 3; The total amount contributed by Palmers lon is as follows: Post Office War Bond'. £ 1 8,830; 4$ per cent. War Bands, £10,820; P.O. Certificates, £30,600, Bank of New Zealand. £53.700; Bank of Australasia, £20,000; Union Bank, £18,910; National Bank, £4150; Bank of New South Wale% £4OOO. Bryn all ard Keeblo, broker*, £11,400. Total, £172,380. NAPIER, September 8, Contributions to the War Loan are as follow: —Napier banks, £410,000;

XVapier Post Office, £80,167; other Post Offices, *92,285. GISBORNE, September 3. Contributions to the War Loan through the Post Office amount to £62,000; through the local banks, £232,000; total for Poverty Bay, £294,000. . WANGANUI, September-3. The Post Office reported that this Wanganui subscription to. the Wai Loan amounts to £102,760. TIMARU, September 3. The Post Office contribution, to the War Loan in South Canterbury amounts to £162,390. HUNTERVILLE, September 3. Subscriptions to the War Loan through the local banks amount to £39,400, including one private donation of £15,000, one of £4OOO, one, of £2500 and eight of £1000; Poet Office £2800; total, £42,200. OAMARU, September 3. After a vigorous publicity campaign conducted throughout North Otago under the auspices of the Waitakj County Council, assisted by a citizens’ committee, the loan closed to-day with satisfactory results. Tffio banks received'£2B,ooo and the Post Office £08,393 Hi; making a total of £84.393 Hs. INVERCARGILL, September 3. ' The Invercargill Post Office has taken £236,000 for the War Loan, and the city banks have handled £68,000. The country bank returns have still to oome in, so that the complete figures will be well over £300,000. ■ Smith and Smith, Ltd., oil and colour merchants, decided at a meeting of the directors at Dunedin that the company would take up £IO,OOO of War Bonds. Mr W. Smith, of the Wellington branch, who Ims been on a visit to Dunedin, will arrive back here tomorrow. ; , ■ The Merchant Service Guild has decided •to invest £I2OO in the War Loan- This is tho second investment in national loans made by the guild, for last year that body took up £2OOO Worth of stock in the first loan.