WELLINGTON'S FINANCES.
• i (By Telegraph.—Press Association.) WELLINGTON, this day. The ex-Mayor, Hon T. Hislop, and the Mayor, Dr. Newman, are engaged in a verbal duel about last year's financing. At last night's meeting of the City Council Dr. Newman said the Council could not shut its eyes to facts, however ugly, but must work so that the finances could be put on «ound ifeusihess lines. He then mentioned that the overdraft on 31st March was over £45,000, and that the loan of £15,000 raised for the abattoirs had been diverted to the re-' payment Of an old loan under another head. The large Overdraft is explained by the Council pushing on with expenditure on works in spite of the .ratepayers' rejection of loan proposals last February. Mr Hislop declares that the ab-' attoir loan was not diverted, and the matter is still under dispute. The City's revenue on general account for the current year is estimated at £142,----627 and the expenditure at £141,497.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19090611.2.57
Bibliographic details
Auckland Star, Volume XL, Issue 138, 11 June 1909, Page 5
Word Count
163WELLINGTON'S FINANCES. Auckland Star, Volume XL, Issue 138, 11 June 1909, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.