LIBERTY LOAN IN SOUTHLAND

Southland Times, Issue 24755, 28 May 1942, Page 5

LIBERTY LOAN IN SOUTHLAND

PROGRESS OF CAMPAIGN A fiirther meeting of the Southland Liberty Loan Committee was held yesterday. The Deputy Mayor, Mr A. Wachner, presided. Ways and means were discussed with a view to raising both large and small amounts towards Southland’s objective of £500,000. A suggestion was made that employers might consider payment of staff bonuses this year in loan stock or £1 Liberty Bonds. At 7.25 this evening Mr R. Lund will give a radio talk from station 4YZ on the Liberty Loan. Already one or two large business firms have already decided to finance investments on behalf of their employees, repayments to be made by instalments over a period by deductions from wages. This method will assist salary and wage-earners in helping Southland to reach its objective. COUNTY COUNCIL’S INVESTMENT The Southland County Council at the annual meeting yesterday decided to invest £lO,OOO in the Liberty Loan. The money will be taken from the plant renewal fund, there being no surplus in the revenue account. Councillors were unanimous that every effort should be made, and all available moneys employed to support the loan. An appeal to the farming community to give every support to the Liberty Loan was made yesterday by Mr A. L. Adamson, secretary of the Southland Provincial Executive of the Farmers’ Union. “Farmers, I know, will do their part,” Mr Adamson said. “If, however, any have doubts about the investment and the urgent need for the money they should listen to the broadcast by the provincial president of the union, Mr E. A. Cameron, to be given over 4YZ on Friday evening.” The Otatara-Wallacetown Rabbit Board has decided to invest £lOO in the loan.

A Press Association message says that in response to the Prime Minister’s appeal and as a token of confidence in victory, the executive of the Auckland Returned Services Association has invested £lOOO in the Liberty Loan.

“RAINY DAY HAS ARRIVED”

(P.A.) AUCKLAND, May 27. An urgent appeal to all New Zealanders to invest in the £15,000,000 Liberty Loan was made by the Deputy Governor of the Reserve Bank, Mr E. C. Fussell. There were, he said, five more days to go and £6,000,000 more still to get. He emphasized that in paying for the war the Government’s problem was to find the fairest way of enlisting the help of all the people. This explained why unavoidable tax increases were often accompanied by Government loan issues, as there were those people who paid little in taxes but could do much by lending their available cash for war purposes. The whole idea of the loan was to pay for the people’s own protection, and if contributing meant cutting down expenditure on things which they could manage to do without the people should grit their teeth and face the necessity for a reduction in their personal expenditure. If assistance with the loan meant investing cash which had been set aside for a rainy day, the day had arrived.

DOMINION TOTAL

(P.A.) WELLINGTON, May 27. The Reserve Bank reports that the Liberty Loan receipts total £9,388,460, comprising 3286 applications for 21 per cent, stock amounting to £3,243,130 and 4202 applications for 3 per cent, stock amounting to £6,745,330. The large applications include £lO,OOO each from the New Zealand Farmers’ Co.-Oper-ative Association, New Zealand Holdings Limited, Sharland and Co. and Levin and Co.