LIBERTY BONDS SELL WELL

Southland Times, Issue 24757, 30 May 1942, Page 4

LIBERTY BONDS SELL WELL

GREATER ACTIVITY IN CITY There was an increased demand for Liberty war loan investments in Invercargill yesterday and all selling places were inundated with applications for £1 Liberty Bonds. Within an hour £4OO worth was sold through F. Holloway, Ltd., alone and a further £2OO worth was obtained. The total sales on Thursday were £2273 and a high figure was reached yesterday. A big effort in securing small ana large investments is still necessary and the Liberty Loan Committee is intensifying its efforts during the next few days. “If Southland should reach or perhaps exceed the £500,000 objective, this province will have cause to feel justly proud,” said the campaign organizer (Mr W. G. Nield) yesterday. Every member of the committee has worked with vigour and determination.” Liberty Bonds will be on sale at the Town Hall from 11 a.m. to noon on Monday. The Deputy Mayor (Mr A. Wachner) and Mr D. Harris, a member of the committee, will sell bonds personally. Members of the Invercargill Stock Exchange will be at their offices all day Monday and the trading banks will be open. Mr John Gilkison will speak on the Liberty loan from station YZ at 5.55 p.m. today. Yesterday afternoon Mr Nield addressed the employees of Kingsland’s biscuit factory and £lOO worth of bonds was sold within 10 minutes. A scheme to raise money for the purchase of bonds has been introduced at the office of The Southland Times. DUTY TO SUPPORT LOAN When asked to comment on the Liberty Loan campaign yesterday, the chairman of the Invercargill Stock Exchange, Mr R. C. Cook, mentioned that brokers and others connected with the loan had had a very busy time yesterday taking applications and answering queries about the loan. There were many people who, when canvassed to contribute to the loan, said they had an overdraft with a bank, but in many cases this was stated to be below their usual limit. . “Actually this is hardly a justifiable reason for not contributing to the loan, said Mr Cook, "and it is the duty of everyone to lend to the limit of his capacity as it will require a tremendous effort in the last day and a-half of business which is now left to find three or four million pounds.” TEST OF DEMOCRACY (P.A.) WELLINGTON, May 29. “The test of democracy in its ability to look after itself by voluntary means is what, after all, is represented in the Liberty Loan appeal,” said Captain A. S. Holm, president of the Associated Chambers of Commerce. "Subscriptions are coming along splendidly, but still about £3,000,000 must be raised in the very short time remaining. All know how increased taxation and higher-priced goods have combined to make increased inroads into personal incomes or net profits. All should dip deeper into their earnings past, present or future, to provide the State with the sinews of war.”

The New Zealand Returned Services Association has invested £lOOO in the Liberty Loan as a token of duty to those who are fighting not only to preserve our liberty, but also to ensure our very existence. / Mr Mark Silverstone, a director of the Reserve Bank, stated emphatically at Dunedin that there was no foundation whatever for the rumours current that the Government intended to put a compulsory loan on the market when the Liberty Loan closed. “The Government has a voluntary loan on the market, believing that it will be fully subscribed, and from that it is obvious the Government is not thinking of a compulsory issue,” said a Treasury official when the statement made by Mr Silverstone was referred to him tonight. “The Government has every confidence that the people will realize their responsibilities in their hour of danger and subscribe the full amount of the issue.”

OVER £12,000,000 IN HAND

(P.A.) WELLINGTON, May 29. The Reserve Bank announced that today’s Liberty Loan subscriptions totalled £1,788,000, making a grand total to date of £12,328,770. Applications for 2J per cent, stock total £4,562,000 and for 3 per cent, stock £7,766,170. Large subscriptions include: South British Insurance Company, £50,000; State Fire Insurance, £25,000; Dominion Life Assurance, £20,000; National Tobacco Company, £10,000; Caltex Ltd., £10,000; Smith and Smith, Ltd., £10,000; Lancashire Insurance Company, £5000; L. Evans and Company, £5000; Mercantile and General Insurance Company, £lOOO.