LOAN REACHES £39,000,000

Southland Times, Issue 25703, 12 July 1943, Page 4

LOAN REACHES £39,000,000

Widespread Support Praised SOUTHLAND FOURTH IN PERCENTAGE (P.A.) WELLINGTON, July 11. The Minister of Finance (the Hon. W. Nash) announced tonight that the 3rd Liberty Loan has been over subscribed to the extent of more than £4,000,000 and that the response to his appeal for widespread support from the people had been phenomenal. The total number of subscribers was 419,763. Mr Nash gave the following details of the subscriptions, which amount to £39,054,386, and mentioned that these figures are not complete as further applications in the post will be included: Stock 62,570 applications for £29,609,755; bonds, 182,193 applications for £2,063,429; national savings, at least 175,000 depositors for a total of £7,381,202. The number of depositors to national savings accounts had not been check-counted, said Mr Nash, but the Director-General of the Post Office, in giving the figure of 175,000, stated that if anything it was on the low side.

For the purposes of the loan campaign the Dominion was divided into 18 districts corresponding to the chief postal areas, each being given an objective. The results on a district basis showed the percentage of the target reached as follows: Nelson £665,842, 121 per cent; Wellington, £5,094,820, 117 per cent.; Blenheim, £323,153, 119 per cent.; Invercargill, £1,486,955, 114 per cent.; Dunedin, £2,783,830, 112 per cent.; Auckland, £7,186,467, 107 per cent.; Gisborne, £501,066, 99 per cent.; Napier, £1,149,890, 96 per cent; New Plymouth, £1,064,549, 96 per cent; Wanganui, £881,082, 90 per cent.; Timaru, £715,770, 88 per cent.; Palmerston North, £1,244,445, 86 per cent.; Christchurch, £3,408,681, 83 per cent.; Oamaru, £247,735, 81 per cent.; Greymouth, £363,932, 78 per cent.; Westport, £99,173, 68 per cent.; Hamilton, £1,336,876, 64 per cent.; Thames, £549,120, 63 per cent.; national institutions, £9,960,000. Subscriptions from national institutions, such as insurance offices, have not been allocated to districts, but have been included as a separate total. On the other hand national savings deposists totalling £2,250,000 have been included in the district figures. The British Chancellor of the Exchequer, Sir Kingsley Wood, has sent a cablegram to the Hon. W. Nash as follows: “I have followed the progress of the Liberty Loan with keen interest and congratulate you most heartily on the magnificent result, which shows the determination of the people of New Zealand to devote all their resources to the common cause and to speed the path of the United Nations’ victory.” Mr Nash announced that the final figures would be announced by the Prime Minister (the Rt. Hon. P. Fraser) on Wednesday or Thursday and it might be £39,500,000 by that time. OVER-SUBSCRIBED BY £BO,OOO Southland Contributions Southland’s contribution to the third Liberty Loan now stands at £1,375,554, or £80,554 in advance of the official target set for the province. The total is not final. The amount from deferred wool payments has still to be added and the district organizer, Mr W. G. Nield, estimates that this will be between £BO,OO and £lOO,OOO. Many returns of promises to contribute to the loan through national savings deposits spread over the next nine months have still to come to hand. Mr Nield expects this source to yield- about £12,000. Applications for loan stock received by post today will be accepted provided the postmark indicates that the letter was posted during the week-end. It will probably be tomorrow or Wednesday before the final total is known.

Fortrose, Waikaia, Colac Bay and Riversdale attained their targets on Saturday. Forty places in Southland were assigned targets and 22 of these targets were attained. The following is the order in which the various centres reached their targets:—Thornbury, Mossburn, Orawia, Waikaka, Pukerau, Waimahaka, Browns, Woodlands, Tuatapere, Waikawa, Fairfax, Edendale, Wyndham, Invercargill, Wairio, Dipton, Makarewa Junction, Glenorchy, Fortrose, Waikaia, Colac Bay and Riversdale.

On Saturday afternoon a house-to-house canvass was made in Gore by 100 men and women to obtain subscriptions to the loan. The amount obtained by this drive was £5636. The staff o£ the money order branch of the chief post office, Invercargill, had a very busy time on Saturday, mainly dealing with applications for loan stock and for bonds received by post. So great was the rush of business that nine members of the staff worked throughout the afternoon. The amount received on Saturday towards Southland's target was £68,810 from all sources. On Thursday afternoon at the Tudor Lounge members of the Southland Third Liberty Loan Committee and representatives of various organizations that have assisted in the loan campaign will be the guests of the Reserve Bank at afternoon tea. CANVASS IN GORE The house-to-house canvass conducted at Gore on Saturday afternoon in aid of the war loan resulted in bonds to the value of £2lBO being sold. This is considered to be a very satisfactory result. The drive was carried out by W.W.S.A. personnel, members of the Eastern Southland Third Liberty Loan Committee and others. The Gore Pipe Band assisted, playing selections in various parts of the town during the afternoon. On Friday the Gore Public School attained its “target” of £lOO. This sum is exclusive of the £6 raised recently for savings stamps. DISTRICT TOTALS The following table shows the amount raised by and the target for each centre in Southland: —

Amount •Invercargill Target £ 656,500 Raised £ 729,071 Arrowtown 9,000 3,664 Athol 3,000 1,490 Balfour 9,000 5,852 Bluff 43,000 28,181 •Browns 3,000 4,166 •Colac Bay 1,000 1,055 •Dipton 10,500 11,973 •Edendale 16,500 20,881 •Fairfax 1,000 1,233 *Fortrose 2,500 2,515 Garston 3,000 2,295 •Glenorchy 4,000 4,991 Gore 60,500 135,542 Halfmoon Bay 8,500 3,952 Kingston 1,000 729 Lumsden 11,500 9,888 •Makarewa Junction 2,000 2,413 Mataura 42,500 15,636 •Mossbum 5,000 9,322 Nightcaps 18,500 11,778 Ohal 18,500 11,768 •Orawia 3,000 4,908 Orepuki 7,500 5,806 Otautau 34,500 25,865 •Pukerau 6,500 11,000 Queenstown 20,000 15,770 •Rlversdale 11,500 12,317 Riverton 34,500 23,684 •Thombury 3,000 10,337 Tokanui 7,000 4,958 •Tuatapere 21,000 30,000 •Walkala 7,000 8,119 •Waikaka 5,500 12,146 •Waikawa 1,000 1,958 5,367 •Waimahaka 3,000 •Wairlo 3,500 3,872 Winton 62,000 30,532 9,483 •Woodlands 6,500 •Wyndham 25,000 29,041 • Reached target.