INTEREST PAYMENT.

Ashburton Guardian, Volume 53, Issue 273, 30 August 1933, Page 3

INTEREST PAYMENT.

! A MISSION TO LONDON. (Per Press Association). AUCKLAND, August 29. Within two or three weeks the chairman of the Auckland Transport Board (Mr J. A. C. Allum) will leave for London to discuss with the board's bondholders in London the question of the payment of interest in sterling or in New Zealand currency.

After a special meeting to-day, Mr Allum said that many messages had passed between Mr Coates, London financiers and the board. The resin. was that the board had agreed to pay the July instalment of the interest i sterling without prejudice and without recourse, and with the understanding that representatives of the bondholders would meet the board's chairman as soon as he reached London. Mr. Allum said that the board was now considering proposals for submission by him to the English bondholders. THAMES VALLEY POWER BOARD. TE AROHA, August '29. Tile chairman of the Thames Valley Electric Power Board has telegraphed to the Acting-Prime Minister (the Rt. Hon. J. G. Coates), with reference to the press report that Mr Coates is making representations through the High Commissioner on behalf of the Southland Electric Power Board, in reference to its interest charges on a £750,000 loan. The chairman has stated that the Thames Valley Board is in a. similar position in regard to interest clue on September 1. on £350,000 at 6 per cent, and asking that Mr Coates negotiate also for the Thames Valley Board.