COMMONWEALTH DEFENCE.
THE NAVAL LOAN BILL
United Prkbh Association —Copyright MELBOURNE, Nov. 30.
The Naval Loan Bill has been introduced. It provides for money to be raised by inscribed stock at not more than 3 per cpnt. Power is reserved to raise any part of the money by 3£ per cent. Treasury bonds. These may be exchanged for inscribed stock or redeemed out of money raised by the issue of stock.' The inscribed stock is made redeemable. Provision is made for a sinking fund of 4 per cent. The fund starts in July, 1912. The moneys raised are to be appropriated for the initial cost of the fleet unit.
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https://paperspast.natlib.govt.nz/newspapers/GIST19091202.2.27.11
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Gisborne Times, Volume XXVII, Issue 2674, 2 December 1909, Page 5
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109COMMONWEALTH DEFENCE. Gisborne Times, Volume XXVII, Issue 2674, 2 December 1909, Page 5
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