MONEY FOR DEBENTURES

Sun (Auckland), Volume II, Issue 508, 10 November 1928, Page 12

MONEY FOR DEBENTURES

SUMS FREELY OFFERED ARRANGEMENTS FOR INVESTORS Press Association. WELLINGTON, Friday. The Prime Minister announces th&t he has been advised by the Commit" sioner of the Rural Intermediate Credit Board that the whole o£ ttw first issue of the board’s debentures amounting to £200,000, has been taiMP up, and further sums are being tr eeiy offered. The statement that the Governmen grant of £400,000 would soon be exhausted, and there would th/a be ? further funds for the purposes or w Act, has been shown to be foundation, since there is ample e ‘ dence from the insistent demand the board’s debentures that large su Jf of money are assured to enable * ■ board to satisfy the Government s a • sire to supply money to farmers, particularly the small farmers, ai reasonable rate and on terms S IV * security against arbitrary demands repayment. . Early inquiries indicated tnai board’s debentures would commana ready sale, and it was decided to the first issue of £200,000 a P r * one. The result was most succesTo meet the demand it is authorise a second issue of £200,u • The whole of the first issue £200,000 has been raised without ™ addition of any expense beyond cost of printing the debentures, it is confidently expected tnai * second issue will be equally sue ful. .. _ lim g Investors of large and small , have approached the Commission the Rural Intermediate Credit t with requests for debenture*- d since the commissioner is P r ®~. from receiving their money unl ', u j re . necessary restrictive legal req ments have been complied rangements have been made to the wishes of investors having money available, and who disappointed if it were not ax: v now. Accordingly persons desirme take up debentures may pay bl j C money to the credit of the r Trustee at any branch office han g* money-order office free of e *• g tat on Wellington, and receivetot full debenture rate from tne an deposit until such time as iurj pebentures can be legally ip 0 * bentures are in denominatio a £IOO, £SOO and £I,OOO, and currency of five years witn c erti' at 55 per cent., but debenture ficates will be issued for the £lO if required. .. _ lv eraThe Government is exceeding J ob . tified at the success achievea e?f t taining funds and it d esi r® s *„ tested its thanks for the goodwill nu since the inauguration of tn® ..Hon ot and for the material contr refunds that will enable it reS ts cessfully conducted in the mi the farming community*