HC Deb 23 June 1944 vol 401 cc489-90W
Sir H. Williams

asked the Chancellor of the Exchequer if he will obtain and publish in HANSARD the details of the lottery issue of the Third War Loan of the U.S.S.R. which is now being issued.

Sir J. Anderson

, pursuant to his reply [OFFICIAL REPORT, 23rd May, 1944; Vol. 400, c. 573] supplied the following statement

The total amount of the issue was 24,000,000,000 roubles. Subscriptions closed on 12th May, by which date the loan was reported to have been over-subscribed by 3,064,000 roubles. The loan is divided into two series, the lottery issue for distribution amongst the general population, and an interest bearing issue for distribution amongst the workers' guilds, co-operatives and co-operative farmers. The interest and prices will be exempted from State and local taxes.

THE LOTTERY ISSUE.

Subscribed May, 1944.

Period of the loan 1st November, 19441st November, 1964. Bonds of 500, 200, 100, 50 and 25 roubles. The 500 and 200 rouble obligations consist of 5 and 2 bonds respectively of too roubles each and have corresponding numbers and drawing rights. Similarly the 5o and 25 rouble bonds have the rights ½ of and ¼ of a 100 rouble bond.

Prizes.—Two drawings will take place each year during the 20 year life of the lean, i.e. a total of 40 drawings for prizes as shown in the schedule below. The total amount of the prize money is calculated to average 4 per cent. per annum on the loan.

Number of prizes during the 40 drawings in respect of each 100 million roubles of the loan. Value of prizes including the nominal value of the obligation
roubles
40 each with a value of 50,000
80 each with a value of 25,000
200 each with a value of 10,000
400 each with a value of 5,000
4,000 each with a value of 1,000
40,000 each with a value of 500
285,280 each with a value of 200
330,000 Total Total 89,056,000
roubles

REDEMPTION.

Bonds which have not drawn prizes are redeemable at par by annual drawings between 1st November, 1949, and 1st November, 1964, as follows:

  • 1949–54–2,500,000 roubles per annum.
  • 1955–59–4,200,000 roubles per annum.
  • 1960–64–6,200,000 roubles per annum.
Bonds not so drawn for redemption may be presented for payment between 1st November, 1964, and 1st November, 1965. Bonds not presented for payment during this period will be cancelled and no payment will be made.