THREATS RESENTED
THE SOUTHLAND POWER BOARD. REPLY TO FINANCE MINISTER. INTEREST PAYMENT QUESTION. (Per Press Association) INVERCARGILL, This Day. The Minister Of Finance (the Rt. Hon. J. G. Coates) telegraphed to the chairman of the Southland Electric Power Board (Mr W< Hinchey) directing the Board to pay September interest in sterling. He states that if the board fails to comply the Government must pay the difference in view of the State guarantee, and legislation will provide that the amounts so paid shall constitute a debt to the Crown and be recoverable as such. In view of the present position the Government cannot possibly agree to extend the Government guarantee to any conversion loan attempted in 1936. The chairman replied: "I consider and am advised that it is my duty to carry out the resolution of the board. Your attempt to dictate and threats are resented."
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Bibliographic details
Ashburton Guardian, Volume 53, Issue 287, 15 September 1933, Page 6
Word Count
145THREATS RESENTED Ashburton Guardian, Volume 53, Issue 287, 15 September 1933, Page 6
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