NO MONEYS IN RESERVE

Otago Daily Times, Issue 25866, 9 June 1945, Page 8

NO MONEYS IN RESERVE

FURTHER LARGE INVESTMENTS . UNLIKELY (P.A.) WELLINGTON, June 8. The Minister of Finance, Mr W. Nash, stated to-day that the subscriptions to the Victory Loan now exceed £18.000,000. leaving 'approximately £7,000,000 required to fill the loan. “ The districts with their large groups of voluntary workers are doing a wonderful job,” said the Minister, “and it will not be through lack of enthusiasm on their part if the lban is not filled before the closing date. The Wellington district leads at present on a percentage basis, but Auckland, Southland, Wairarapa, , and North Otago are close up. From information I have the next few days will disclose some lively competition, not only between the district? mentioned, but also a number of others who are at present lower down on the list. “The Government is deeply appreciative of what is being done by all those associated with the campaign, and wishes them every success in their efforts. I also wish to thank all those who, in response to our appeal, made their investments early in the campaign. There, is, however, one point which I think it necessary for me to refer to.

“In past loans large amounts were subscribed in the closing stages, thus ensuring the success of the issues. In the present case the big investments were made earl-" in the campaign. “There appears to ba an impression abroad,” added Mr Nash, “ that the Reserve Bank or the Government is holding some Victory Loan moneys in reserve and that the loan will be filled from this source before the closing date. All known subscriptions and promises are included in the published figures, and I wish to emphasise that the Victory Loan stands or falls by what New Zealanders invest between now and June 16.”