NEW LOAN
NATIONAL DEVELOPMENT INTERNAL SUBSCRIPTION PA WELLINGTON, Apl. 18. A new internal loan, the proceeds of which will be used for national development works and to repay existing loans, is to be opened for public subscription on Wednesday. Longterm and short-term issues will be available. The Minister of Finance, Mr Nash, stated this evening that the long-term issue would bear interest at 3 per cent., and would mature on May 15, 1964-66. The short-term issue would carry interest at 21 per cent., with currency to May 15, 1955-56. Death duty stock would be available in both issues. The new* loan would provide an avenue for investment of surplus capital in gilt-edged securities, the Minister said. He stressed the importance of savings, and stated that public subscription to Government loans exercised an anti-inflationary influence on the national economy.
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Bibliographic details
Otago Daily Times, Issue 27059, 19 April 1949, Page 4
Word Count
138NEW LOAN Otago Daily Times, Issue 27059, 19 April 1949, Page 4
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