CAPITAL WORKS
GOVERNMENT’S PLANS SALE OF DEBENTURES INTEREST AT 3J PER CENT (Per United Press Association.) Wellington, June 29. The Minister of Finance, Hon. J. G. Coates, announced to-day that the Government has decided to resume the sales of debentures and stock on July 1 next through the Post Offices and branches of the banks of issue throughout the Dominion. The securities to be issued are to provide an avenue of investment for the public in the Dominion and the proceeds will be utilized in facilitating the capital works programme of the Government, the policy of which is definitely towards works of a reproductive character, namely, land development and settlement, forestry and public works generally. The interest rate will be 3J per cent, and the securities are to have currency to November 15, 1941, the Government reserving the option of redemption on or after November 15, 1938. The Minister also stated that arrangements were in train for the resumption of the sale of Post Office investment certificates in regard to a portion of the original 5.} per cent, loan which falls due for payment on August 15 next. Mr Coates announced that holders of stock would be paid off in cash at maturity.
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Bibliographic details
Southland Times, Issue 22055, 30 June 1933, Page 8
Word Count
203CAPITAL WORKS Southland Times, Issue 22055, 30 June 1933, Page 8
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