THE WAR LOAN.

Star (Christchurch), Issue 12085, 14 August 1917, Page 5

THE WAR LOAN.

SUMMARY OF PROSPECTUS. CONDITIONS OF ISSUE AND RATES OF INTEREST. (Spscial to the " Star.") WELLINGTON, August. 14. The prospectus of the £12,000,000 Liberty War Loan at 4$ per cent, to bo circulated throughout the Dominion to-morrow, provides for 'the reservation of a million for persons who desire to invest in securities available for payment of death duties. These securities will not he transferable, but may he exchanged at the Treasury for c':her available securities. Trust moneys may be invested in the War Loan. War bonds will be issued in the denomination of £IOO, £SOO and £IOOO, or such higher sums as may be arranged, and will b?i payable to bearer. The loan will be repaid at par on November 15, 1938, aud interest on bonds and stock will be paid half-yearly on May 15 and November 15 respectively. The first interest will be paid on May 15, 1918. and will amount to £3 2s 7d per cent on fully rjaid up allotments and £2 0s or], on instalment allotments. Interests on inscribed stock will be paid by dividend warant and interest on bonds on the production of coupon. Post Office war bonds having a currency of ten years will also be issued for amounts of £IOO, bearing interest at 5 per cent, not free from income tax. No one applicant may, however, hold more than five such bonds, totalling £SOO in value, these bonds being intended for persons of email means who desire payment of interest half-yearly and do not wish it to acumulate as in war loan certificates, and is not intended for large investors who might be inclined to take up such bonds in preference to the ordinary war loan bond at 4£ per cent free of income tax. Payment of these Pest Office bonds may be made at any money o.'der office, and applications close en September 3, 1917. War loan certificates will be issued for periods of five and ten years, bearing simple interest at 5 per cent. For instance, 13s will buy n £1 certificate repayable in ten years, and 16s a certificate repayable in five years.