AVAILABLE FOR PURCHASE

Stratford Evening Post, Volume II, Issue 371, 30 September 1933, Page 5

AVAILABLE FOR PURCHASE

Post Office Investment Securities Press As-.-foH'itinti. —Copyright. Wellington, Sept. 29. Post Office investment certificates, which were withdrawn from sale on February 28 last because of the then impending legislation affecting interest rates on Government and local body securities, will be available for purchase by the public on and after October 2. An announcement to this effect was made to-night by the Minister of Finance (the Rt Hon. J. G. Coates). The new issue of this form of security,, which the Minister mentioned had been very popular in the past, will be on the lines of the British national savings certificates in that although a definite currency of six years is provided the certificates will have a graduated redemption value after a lapse of six months from date of issue, and furthermore they will remain interest-bearing for a period not exceeding four years from the fixed maturity date. T he redemption value six years from the date of purchase has been calculated on the basis of approximately 3i per cent, interest compounded, and intermediate redemption values, which are on a monthly basis after the first six .months, provide that the maximum yield should not be available until the. closing stages of the life of the certificate.