INVESTMENTS IN VICTORY LOAN

Southland Times, Issue 25680, 24 May 1945, Page 4

INVESTMENTS IN VICTORY LOAN

Latest Southland Total

£717,343 IN HAND

The amount invested in the Victory Loan in Southland yesterday was £8233. This brought the total to date to £717,343, or 56.5 per cent of Southland’s objective of £1,270,000. The total received yesterday was made up of £3960 invested in. loan stock and £4273 invested in Victory bonds and national savings. Invercargill has now raised £493,719 towards its objective of £852,850. So far Fortrose, Browns-Hedgehope and Glenorchy are the only districts in Southland which have reached their quotas. Browns-Hedgehope with a target of £3OOO has now £3336. in hand, and Fortrose has £2716, against a target of £2400. Victory bonds to the value of £l9O were sold yesterday at the special table in the vestibule of the Chief Post Office. This brings the total to £6OO since Monday. Yesterday a further £lOOO was received for the loan at Invercargill by transfers from Post Office Savings Bank accounts, thus making the total invested in the loan in this way £3300 in three days. Most of this money is being transferred to national savings accounts. Another batch of 3000 letters was posted yesterday to holders of post office savings bank accounts urging them to invest in the loan.

Today members of the Southland District War Loan Committee will visit the Lumsden, Athol, Garston and Mossbum districts in order to assist in organizing the loan campaign in those districts. The Drummond, Oreti, and Centre Bush-Limehills districts will be visited shortly for the same purpose. Mr A. W. Jones, chairman of the Invercargill Stock Exchange, wilt speak on the loan from station 4YZ at 7 o’clock tomorrow evening. Mr A. Walmsley has arranged for, a concert party to give a Victory loan concert at the Orawia public hall at 8 p.m. on Tuesday. Similar concerts will be given at other places at the request of local loan committees. A community sing at Pahia on Tuesday evening resulted in £6OO being raised for the loan. SMALL INVESTORS “The daily increase in the number of small investors as shown by the Victory bond sales and by national savings deposits is one of the most pleasing features of the loan campaign,” said the district organizer, Mr W. G. Nield, yesterday. “It is expected that as the larger investments are received from now on the* progress of Southland’s loan total will be more rapid.” Mr Nield suggested that' churches, societies and clubs which are holding money for the building of churches, halls and sports pavilions, which could not be erected at present because of the shortage of labour and materials, might be well advised to invest the money in the loan by opening national savings accounts. Up to £lOOO could be deposited. Interest was at 3 per cent, and the money would be repayable on June 30, 1947. DOMINION TOTAL NOW £13,008,011 Southland Now In Third Place (P.A.) WELLINGTON, May 23. The Reserve Bank announced tonight that today’s receipts brought the total of the 1945 Victory Loan over the £13,000,000 mark, the exact amount ebing £13,008,011, Cash subscriptions during the day amounted to £232,409, including promises redeemed £5412. The amounts and percentages of objectives of the 20 war loan districts are now:—Wellington, £2,182,041 (59 per cent.); Auckland, £3,342,415 (57); Southland, £716,264 (56); Taranaki, £507,779 (54); Otago, £1,160,054 (52); Wairarapa, £201,736. (52); South Canterbury, £300,942 (51); North Otago, £119,865 (50); Wanganui, £391,955 (50); Hawke’s Bay, £460,380 (48); Marlborough, £121,632 (47); Northland, £212,788 (47); Gisborne-East Coast, £205,931 (47); Nelson, £238,251 (45); Waikato-King Country, £613,363 (45); Westland, £150,607 (45); Manawatu, £498,058 (45); Buller, £45,810 (44); Canterbury, £1,294,594 (44); ThamesBay of Plenty, £243,546 (44). ,