FIRST WAR LOAN.

Otago Witness, Issue 3987, 12 August 1930, Page 5

FIRST WAR LOAN.

REDEMPTION ARRANGEMENTS.

RENEWAL OFFER TO HOLDERS. WELLINGTON, August 5. In connection with the 4A per cent. War Bonds, which were issued in 1915 for war purposes and mature on September 1, the Minister of Finance (Mr G-..W. Forbes) stated to-day that the Govern ment was offering holders of the maturing bonds renewal for a further period to September 1, 1937, in either inscribed stock -or bearer debentures. The securities issued in renewal will bear interest at the rate of 51 per cent., payable halfyearly on March 1 and September 1. The maturing securities were issued with the condition of freedom from in-, come tax, but the income from the securities issued in renewal will not be exempt from taxation. It should be clearly understood, said the Minister, that income tax will not be deducted from the half-yearly interest payments, but will, be payable only by investors whose in-: corned are assessable for-taxation in the' usual way. Investors desiring to renew are re-i quested to apply at any. postal moneyorder office or branch of the Bank of New Zealand in the Dominion, or at the' offices of the Treasury in Auckland. Wei lington, Christchurch, and Dunedin, where forms of application for renewa’ may be completed and handed in, together with the maturing bonds for transmission to the Treasury. Bonds which are not to be renewed will be paid on presentation at maturity at any branch of the Bank of New Zealand in the Dominion, or at the office of the Treasury cashier at Wellington. Applications for renewal only will be accepted at postal money order offices, and holders desirine to uplift the proceeds of maturing bonds must make application to the nearest branch of the Bank of New Zealand or to the Treasury. Interest ceases to accrue in respect of these securities on September 1, 1930, but where renewal is applied for continuity of interest will be allowed, provided application is made within a reasonable period.