NEWMARKET LOAN.
PUBLIC TRUSTEE OFFERS £3,000. ! The recommendation of the Hon. \V; ' : Fraser, Minister for Public Works, that the Xewmarket Borough Council should 7 . apply to the Public Trustee for an addi- :■" tion of one-tenth to the loan of £30,000 authorised for street and other works, has resulted very satisfactorily. Kilo application was duly made, and word na.v been received by the Mayor (Mr. 1). \ Teed) from the "Public Trustee that the: .K----£3,000 can be advanced from that office f0r.40 years at five per cent, plus one per cent sinking fund. In conversation with the Mayor this morning a representative of the Auckland "Star" was informed that if the offer/ was accepted by'the Council ,it would enable the works authorised to he.com- ' pleted. Mr. Teed said the proposal would be submitted to the Council at the first opportunity, when he believed the offer would be accepted. It was for the Council, of course, to decide as to whether or not the terms were sufficiently favourable to justify the accept- , ance' of this loan for the purpose of completing the works now under way : and authorised.
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Bibliographic details
Auckland Star, Volume XLIV, Issue 89, 15 April 1913, Page 8
Word Count
185NEWMARKET LOAN. Auckland Star, Volume XLIV, Issue 89, 15 April 1913, Page 8
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