A NOVEL SCHEME
STATE LOTTERIES. By Telegraph—Press Assn.—Copyright (Received September 5, 5.5 p.m.) SYDNEY, September 4. The Treasurer is considering a scheme for State lotteries to (raise money for local loans. The consultations will be similar to Tatter-sail's. Prizes will bo paid in Treasury bonds bearing interest at 6 per cent, and payable at ten years. Each consultation will ho based on 100,000 shares at As, and will bo conducted without recourse to horseracing. The first prize will bo £SOOO, the second £2OOO, and the third £IOOO. In' addition to its percentage as promoter, which is computed at .£200,000 yearly, the Government, by paying ,tho prizes in bonds, will obtain from subscribers a loan up to one' million annually.
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Bibliographic details
New Zealand Times, Volume XLVI, Issue 10687, 6 September 1920, Page 6
Word Count
119A NOVEL SCHEME New Zealand Times, Volume XLVI, Issue 10687, 6 September 1920, Page 6
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