INTEREST IN LONDON.
FRIENDLY ACTION TO BE BROUGHT. ) ~ (Per Press Association). AUCKLAND, December 26. After a conference between the Auckland Transport Board and the City Council a decision was reached that the Board should pay in sterling, not in New Zealand currency, the next interest due on the tramways loan in London on January 1. A friendly action will be brought in the New Zealand Courts by a representative of the English debenture holders, so that an authoritative decision may be given concerning the respective rights of the parties. The chairman of the Transport Board (the Hon. IT. G. R. Mason) said to-day that the arrangement was regarded as satisfactory, because it secured to the Board the Court action desired upon a harmonious basis, without causing inconvenience to parties not directly concerned in the financial question at issue. The arangement still lacks formal ratification by the Board and the City Council, but endorsement is expected.
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Ashburton Guardian, Volume 56, Issue 64, 27 December 1935, Page 4
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155INTEREST IN LONDON. Ashburton Guardian, Volume 56, Issue 64, 27 December 1935, Page 4
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