LIBERTY LOAN

Southland Times, Issue 24760, 3 June 1942, Page 4

LIBERTY LOAN

Southland Quota In Sight

As a result of a keen demand yesterday for Liberty Loan stock by the smaller investors and a brisk sale of £1 Liberty Bonds, there is a good prospect that Southland s quota of £500,000 in the £15,000,000 Liberty Loan will be reached. It is certain, at least, that if business is as good today, the final day of the loan, as it was yesterday the objective will be achieved.

The Chief Post Office, Invercargill, was a scene of great activity yesterday, and much of this was due to the selling of Liberty Bonds and stock. A Redwing training aeroplane, belonging to the Invercargill squadron of the Air Training Corps, was on display outside the post office throughout the day. The aeroplane was backed up against the kerb and its tail reached across the footpath almost to the entrance to the post office. It was not only a great attraction to the public, but was also a valuable asset in encouraging the sale of Liberty Bonds. Two cadets of the squadron on duty with the aeroplane sold no fewer than 901 £1 bonds during the day. Inside the post office sales were equally brisk. All day long in the savings bank there were queues of people eager to buy Liberty Loan stock or bonds. Many people withdrew money from the savings bank for this purpose. The rush was so great that in the evening members . of the post office staff returned to their desks to get on with the job of balancing their returns. SUBSCRIPTIONS TO LOAN Yesterday a total of £30,000 was subscribed to the Liberty Loan in the Invercargill post office district. There were 130 applications for 1947 stock, totalling £lO,OOO, and 121 applications for 1952-55 stock, totalling £20,000. The Southland Racing Club and the Southland Trotting Club each invested £lOOO in the loan. The Invercargill City Council invested a further £2OOO, making its total investment in the loan £4500. ~ . The exact number of bonds sold in the city yesterday is not yet known. The bonds were on sale not only at the post office, but also at the banks and at a number of the larger shops in the city. The manager of one store reported during the day that the bonds were “selling like hot cakes.” Complete returns had not come to hand last night, but it is probably a conservative estimate that £6OOO worth of bonds were sold in the city during the day. CLOSING TODAY The Liberty Loan will definitely close today, when the public will be given a final opportunity of investing in the loan or of buying bonds. The Redwing aeroplane will again be on view outside the post office with cadets of the Air Training Corps in attendance to sell bonds. This afternoon members of the Southland' Liberty Loan Committee and leading citizens who have helped in the loan campaign will be the guests of the Reserve Bank at afternoon tea at the Tudor Lounge. The chief postmaster, Mr J. Lindsay, will preside. A proposal will be made at the meeting that the committee should not disband in case its services are required on some future occasion. TUATAPERE’S EFFORT Up to yesterday £7OOO had been subscribed in the Tuatapere district towards the Liberty Loan. This amount included £254 worth of bonds and £2B collected during a picture, entertainment. NEARING OBJECTIVE (P.A.) WELLINGTON. June 2. The Reserve Bank reported tonight that the Liberty Loan receipts total £14,764.200. There are some returns still to come. Large applications today include: —Wellington Harbour Board, £60,000; Blue Star Line, £25,000; Woolworths (New Zealand) Ltd., £10,000; Self-Help Ltd., £2OOO.