GOOD RESPONSE

Waikato Times, Volume 132, Issue 22063, 14 June 1943, Page 2

GOOD RESPONSE

LIBERTY LOAN APPEAL £7,398,465 IN WEEK ' * (By Telegraph—rress association) WELLINGTON, Sunday The first week of the Liberty Loan campaign has produced results showing that the £35,000,000 objective is a real stimulus to extra effort by tho public. The Minister of Finance, the Hon. W. Nash, tonight said that subscriptions up to Saturday totalled £7,398,465 and there were 5179 applications, 84 per cent of which were for less than £SOO. “Ir. the first week there were nearly three times as many applications," stated Mr Nash, "ana more than twice as much money as for the two previous loans. The money comes from all places:—Auckland, £1,500,000; Wellington, in second place with £1,000,000; Dunedin, £350,000; Christchurch, £262,000; Invercargill, £236,000; New Plymouth, £153,000; Palmerston North, £121,000; Napier, £116,000; and Nelson, Hamilton, Timaru, Gisborne, Thames. Blenheim, Greymouth, Oamaru and Westport in that order. “The spirit prevailing throughout the Dominion is magnificent. The implications are tlja*. we shall get our money, but we cannot get too much. The fact that there is no extra taxation if subscriptions come up to requirements has impressed everyone with the necessities of our country and the wisdom and advisability of everyone putting in all they can." Mr Nash commended what he called the extraordinarily enterprising proposal of the Public Service Investment Society, which has agreed to lend any members of the Public Service the full amount they desire to subscribe. The first public duty of the Hon. W. Perry, Minister of Armed Forces and War Co-ordination, has been to ; endorse the appeal made by his col-, leagues in the War Cabinet for the Third Liberty Loan. DISTRICT TOTAL OF £51,353 RESPONSE INADEQUATE Subscriptions for the Third Liberty Loan in the town of Hamilton on Saturday amounted to £1,310 for tho eight applications made. Twentyone applications were received in the rest of the postal district, involving £2,700. Hamilton’s total to date is 84 applications for £23,516 and in the remainder of the district there have been 144 applications for £29,840 making a grand total for the district of £53,353, representing 228 applitions.

On the basis of an objective of £600,000 for Hamilton, last week’s figures are £IOO,OOO short of the anticipated response, and the War Loan. Committee stress that greater public co-operation will be imperative if Hamilton’s auota is to be reached. The banks have circularised their customers commending the loan to their attention and offering war loan advances, on which the rate of interest will be the same as that yielded by the securities taken up. EMPLOYERS’ HELP SOUGHT FULL CO-OPERATION VITAL The importance of securing the cooperation of employees in the raising of Hamilton’s Third Liberty Loan objective was stressed at a meeting of employers in Toorak Chambers ’this morning. The Mayor, Mr H. D. Caro, presided over an attendance of between 40 and 50 businessmen. Mr Caro mentioned that the people on the home front in New Zealand were being asked to make a stupendous effort but one in no way comparable with that being made by our men overseas. It was disappointing, he said, that out of 434 employers circularised only approximately 10 per cent had managed to attend the irteeting. It was imperative that the full co-operation of employees be obtained, and by urging that staffs increase their national savings, take out war savings bonds this could be achieved. It was suggested that firms purchase bonds and resell them to employees, spreading tlje payment over a period. To date in the Hamilton postal district, said the Mayor, the response to the Liberty Loan had fallen far short of expectations, the £53,353 received being but 10 per cent of the district’s quota. It was suggested, the Mayor continued, the employers call their staffs together, not later than Tuesday night, and address them on the objects of the loan and how they could assist. In order to achieve maximum co-operation an organiser should be appointed from each staff with the object of bringing as many as possible into the scheme. They had to get everyone interested, and it was only by interesting the small investor that the country’s objective fo £35,000,000 could be attained. Money Lying Idle Mr Caro pointed out that at the present time there was £75,000,000 on deposit in post office savings banks in the Dominion and £100,000,000 in 1 trading banks that had not been invested in war loans. They hoped to | get all wage earners in receipt of I £4OO or less to invest 5 per cent of their earnings in the loan. Mr Cafo, in expressing the hope, , that Hamilton’s contribution would i be worthy of the town, pointed out that up to the present Palmerston North, with a comparable population to that of Hamliton, had subscribed two and a half times the amount Hamilton had. The suggestion that the various organisers appointed among the staffs be permitted to attend a meeting on Wednesday morning, when they would have the scheme fully explained to them and ways and means discussed, was opposed by several speakers, who held the view that the time was too short, especially in view of the fact that only about a tenth of employers requested to attend were present. It was considered, that Thursday or Friday would be quite early enough for the suggested meeting. One employer said it should scarcely be necessary to call such a meeting. The employers could address their respective staffs and if ncessary have an organiser appointed. The whole matter could be explained to the employees then. After further discussion it was decided to call a meeting of employees' representatives on Friday morning. Those present were requested to approach as many employers as possible to impress on them the necessity for their full co-operation in the scheme.