STATE LOTTERIES.
N.S.W. PROPOSAL. MEANS OF RAISING REVENUE. By Cable. — Press Association. — Copt/right. SYDNEY, Sept. 5. The Treasurer is considering a scheme for State lotteries to raise money for local loans. The consultations will be similar to Tattersail's. The prizes will be paid in Treasury bonds, bearing interest at 6 per cent., and payable in 10 years. Each consultation will be based on 100,000 shares at 5/-, and be conducted without recourse to horseracing. The first prize will be £SOOO, the second £2OOO, and the third £IOO. In addition to its percentage as promoter, which is computed at £200,000 pep- year, the Go-
vcrnment, by paying the prizes in bonds, will obtain from subscribers a Joan up to £1,000.000 annually.
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https://paperspast.natlib.govt.nz/newspapers/SUNCH19200906.2.32
Bibliographic details
Sun (Christchurch), Volume VII, Issue 2047, 6 September 1920, Page 6
Word Count
120STATE LOTTERIES. Sun (Christchurch), Volume VII, Issue 2047, 6 September 1920, Page 6
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This newspaper was digitised in partnership with Christchurch City Libraries.
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