£12,000,000 WAR LOAN.

Wanganui Chronicle, Volume LX, Issue 17063, 16 August 1917, Page 5

£12,000,000 WAR LOAN.

PROSPECTUS ISSUED

The first official announcement-'in regard to the new War Loan is made v our advertising columns to-day, and the prospectus will be available at all post offices to-day. The loan will be of £12,000,000, the price of issue will be par, and the term of the loan 21 years. The subscription list will be closed on Monday, September 3. It will take the form either of inscribed stock or bearer bonds, at the option of the subscriber. A million pounds of the loan will oe reserved for persons who desire to invest securities which will be available for payment of New Zealand death duties. These securities will not be transferable, but may be exchanged at the Treasury for other available securities, if so desired, and application for this class of security must be specially marked.

Trustees may invest funds in the loan. Applioafrons will not be accepted for less than £100, but small investors may subscribe sums from £1 to £500 for a period of ten years through the post office.

The loan will ba repaid at par on November 16th, 1936. Interest willbe half-yearly, on May 15th and Novefber 15th.

Lodgments may be made by fully paid subscriptions and big instalments, in four payments of 25 per cent, on application, 25 per cent, on November ist. 25 per cent, on January 4th, 1918, and 25 per cent, on March Ist, 1918. No extra interest is payable on instalments paid in advance. If default is made in the payment of any instalment, the instalments previously paid w i]| qq liable to forfeiture.

Holders of war bonds in the £16,----000,000 loan issued last year will have the right to convert into inscribed stock, with currency to November, 1933, at any time between September 3rd, 1917, and March Ist, 1918.

Arrangements have been made under which the banks have agreed to allow advances at reasonable rate of interest to clients who desire to invest in loan, but who have not the ready money to enable them to do so within the time prescribed.