RUMOUR DENIED
BANK OF NEW ZEALAND. (Per United Press Association.) Wellington, October 12. The Bank of New Zealand announces that the amount of its long term mortgage loans at September 30, 1928, was £559,277. Some £150,000 of further loans are in course of arrangement. In connection with the issue by the Treasury some months ago of £400,000 of rural advances bonds the bank absolutely denies the statement which is in circulation that it issued a circular to its managers reading:—“The manager must not. solicit applications for these bonds as the bank is desirous of keeping up its own fixed deposits and I do not wish application forms or prospectuses displayed in the office. Posters may be exhibited in the bank chamber.” On the other instruction the issue was as follows:—“Branches will please bring issue under notice of any person who may be seeking an investment. Bonds would give a government secured investment with a return (including redemption) of £5 9/1 per cent. It is the interest of the bank that the loan should be successfully placed.”
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Bibliographic details
Southland Times, Issue 20615, 13 October 1928, Page 7
Word Count
176RUMOUR DENIED Southland Times, Issue 20615, 13 October 1928, Page 7
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