LOAN INVESTMENT

Waikato Times, Volume 195, Issue 22461, 23 September 1944, Page 4

LOAN INVESTMENT

DISTRICT TOTAL £579,042

HAMILTON EXCEEDS £200,006 Hamilton’s investments in the Victory Loan exceed the £200,000 mark, while the rest of the district has subscribed within measurable distance of £380,000. The investments in Hamilton yesterday were £4640 10s, and in the rest of the district £16,984 11s, making the 'aggregate for the day £21,625 Is. Hamilton’s total to date is £203,070 17s 2d,‘ and that of the rest of the district £375,971 12s Bd, giving a total for the Waikato-King Country area of £579,042 9s lOd. The sale of bonds on Air Force Day in Hamilton yesterday totalled £899. Among the purchasers of bonds were several old-age pensioners. In two cases it was learned that the bonds were bought following the receipt of this month’s age benefits. The Central Waikato Electric Power Board invested £2200 yesterday, following a decision of the board at Wednesday’s meeting. Over 1000 people availed themselves of the opportunity presented by the Royal New Zealand Air Force yesterday to visit the workshops in Bledisloe Hall and inspect the engine, propeller and radiator repair sections. Keen interest was shown by the visitors, and a man who has two sons serving with the Air Force overseas remarked that the visit gave him a far better understanding of the work of ground staffs than he had been able to gain from descriptions given by his. sons.

A glimpse of the speed of the Corsair fighter was vouchsafed Hamilton residents at 1.30 p.m. today when nine of these planes flew over the town in formation, in connection with Air Force week in the loan campaign. The planes twice flew low ever the business area at a speed well over 300 miles an hour. £16,769,048 FOR DOMINION (By Telegraph.—Press Association) WELLINGTON, Friday The amount subscribed to the Victory Loan today—inclusive of £513,254 for bonds issued in respect of wool retention moneys—was £1,486,874, making the total to date £16,769,048. The leading objective percentages obtained to date are: Southland district, 63 per cent; Auckland, 56; Otago, 46; Taranaki and Marlborough, 45; Gisborne-East Coast, 42; North Otago, 39. ADVICE TO FARMERS MAINTAIN NATIONAL ASSETS In a special appeal to -farmers to support the Victory Loan, Mr J. W. Burland, deputy chief cashier of the Reserve Bank, Wellington, who is visiting Hamilton, said that farmers knew that every man had to set aside part of his income or profits for the maintenance of assets. The same principle applied in national life where by taxation or loan some part of the national income was required each year to keep the public assets in good condition. During a time of crisis more had to be done as a measure of protection. Mr Burland pointed out that far too much free money was in existence at present, threatening the price structure. Speaking of thfe national debt, Mr Burland said it was no burden as it represented valuable national assets and the debt service was easily met from revenue. An addition of £40,000,000 to the debt for the time being would be a good thing in the present circumstances.

DEATH DUTY STOCK DOUBLE-PURPOSE INVESTMENT One aspect of the Victory Loan which has not received the attention it merits as a business proposition is death-duty stock. A Hamilton business man today described it as the best investment proposition he knew of for its purpose—its double purpose—in assisting the war effort and providing for the payment of dearth duties. Innumerable estates, it was pointed out, became complicated, often with embarrassment to the beneficiaries, because no provision had been made for the payment of death duties. The stock offered in the Victory Loan suggested an admirable way out of this difficulty. It bore interest at 3 per cent, could be exchanged for ordinary stock and was accepted at par in payment of death duty. Besides being an investment whose value could not deteriorate, since it had the full backing of the State, death duty stock served its full purpose in the war effort. Surprise was expressed that it had not received more emphasis.