PREMIUM BONDS.
CHAMBERS OP COMMERCE IN FAVOR. (From Our Own Correspondent). Wellington, Nov. 29. A decision in favpr of the issue of premium bonds by •• the Government was one of the interesting incidents of the conference 01 the Associated Chambers of Commerce. Delegates spoke warmly both for and against. The chief speaker in favor of the bonds was Mr. J. Young, who said that premium bonds had proved an entire success in Europe. They would attract into the coffers of the Government much of the money that at present was going to the totalisator and "Tatt's," and they would have the advantage of not involving the investors in loss under any conditions. The bonds, in denominations of £5, £lO, £SO and £IOO, would bear interest at the rate of, 8ay,.5 per cent. The investor would receive 2J per cent., with complete security for his capital, and the remaining 2J per cent, would go into a fund from which big prizes would bo paid to the owners .of the bonds selected monthly by ballot. The conference endorsed the scheme by a majority of one vote.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TDN19171201.2.37
Bibliographic details
Taranaki Daily News, 1 December 1917, Page 7
Word Count
184PREMIUM BONDS. Taranaki Daily News, 1 December 1917, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Taranaki Daily News. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in