VICTORY LOAN

Waikato Times, Volume 106, Issue 22612, 17 May 1945, Page 4

VICTORY LOAN

PROGRESS OF CAMPAIGN DISTRICT TOTAL £438,390 Subscriptions to the Victory War Loan in the Waikato-King Country district yesterday amounted to £20,931, bringing the total for the district to £438,390. which is 32 per cent of the objective. In Hamilton, town subscriptions yesterday were £2684, the total to date being £135,052, or 31 per cent of the objective. The district total at the end of the third day last year -was £188,366 (10 per cent) and the Hamilton total £79,941 (13 per cent). Total receipts and percentages of objectives at the end of three days for various towns in the district are as follows.,— £ % Raglan .. 2531 31 Taupiri .. 6445 43 Te Kauwhata .. 6067 40 Te Mata .. 3457 36 Waharoa .. 5259 47 Walton .. 2228 44 • Tirau .. 5728 33 Otorohanga .. 14,662 34 Rotorua .. 28,111 27 POWER BOARD INVESTS £2250 The Central Waikato Electric Power Board decided at its meeting yesterday to invest £2OOO in the 1945 Victory Loan, and also £250 of reserve funds. The decision was not unanimous, Mr R. G. Young recording his vote against the proposal. Mr Young maintained there was an increased public opinion against local bodies investing in such loans, for their funds were needed for development of services. Mr F. L. Onion pointed out that the money was not needed by the board just now, and it could help in winning the war until such time as the board could obtain material, plant and labour. If this became available before the loan matured the bonds could be disposed of. Mr W. J. Lusty said it appeared the board was making undue profits, but the chairman, Mr G. Smith, showed that the approximate profit for the year was £3OOO out of a turnover of beyond £150,000, so the board was not taking more from the consumers than was reasonable trading. The £2OOO proposed for investment represented less than 5s per consumer per annum, he added.