NATIONAL SAVINGS

Wairarapa Times-Age, 13 June 1942, Page 2

NATIONAL SAVINGS

QUOTAS ATTAINED. BY 255 DOMINION TOWNS. (By Telegraph—Press Association.) WELLINGTON, This Day. Notwithstanding the many recent calls on their resources, National Savings depositors are reported to maintain regularity and generosity in their contributions to National Savings accounts. Last week 255 towns, including all the provincial centres, flew their National Savings flags as evidence of having attained their quotas. National Savings are used solely for war purposes, and knowledge of this would appear to explain the determination of national savers to save to the utmost. The latest figures available show a total of 294,508 depositors. Included in this number are 115,580 group depositors (7505 groups), most of whom are contributing by way of regular deductions from wages or salary. A notice appearing in this week’s Gazette prescribes the conditions under which the National Savings campaign will be continued for the 12 months from July 1, and fixes the rate of interest for both National Savings accounts and National Savings bonds at 3 per cent per annum. The maturity date of future investments in all accounts, both current and new, is fixed at June 30, 1945, while National Savings bonds will continue to mature five years from date of issue. This means that the whole basis of the campaign is being continued unaltered. It is understood, however, that as from July 1 a slight adjustment in the selling prices of National Savings bonds will be necessary to provide for the increased National Security tax imposed during the recent session of Parliament.