RATES OF INTEREST.
ASHBURTON COUNTY LOANS PLACED AT, THREE PER CENT The low interest rates at which the Ashburton County Council lias arranged the final instalment of the Ashburton River loan of £5500 and part of a loan of £9OOO for the completion of the river work was commented on today by the County Clerk (Mr G. Kelly).
“The Council has been fortunate 1 in arranging the final instalment of the Ashburton River loan of £5500 at a rate of three per cent and £4OOO of the loan of £9OOO, being the Council’s share of the completion of the Ashburton River work, also at three per cent,” said Mr Kelly. “This shows the trend of low interest rates to local bodies where there is ample security and small loan indebtedness. It is confidently expected that the remaining £SOOO of the £9OOO loan, which will date from December 1, will also be raised at the same rate. Mr Kelly;said that a recent Auckland City loan of £120,000 had been, raised at 3 1-8 per cent, which was considered to be a record, but for the security offered investors in the Ashburton County three per cent was considered to he a satisfactory rate.
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Bibliographic details
Ashburton Guardian, Volume 61, Issue 288, 17 September 1941, Page 6
Word Count
201RATES OF INTEREST. Ashburton Guardian, Volume 61, Issue 288, 17 September 1941, Page 6
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