SLOW AND STEADY.
WELLINGTON M-AYOIWS ADVICE. (By Telegraph.—Press Association.) WELLINGTON, Thursday. The final meeting of the present City Council was held this evening. The Mayor (Mr D. McLaren) reviewed the ■financial position. He .stated that there •was a oredit balance, alter providing for all expenditure, of £1,637, which, .was very .satisfactory, in view of , the -fact *hat at the Beginning of the -year a debit balance of about £2.000 was anticipated. "At the of the year," eaid Mr; McLaren, "I. did not .see that it was necessary to increase the revenue by means of added 'rates, ac the state of trade in the city .then did not, in my judgment, warrant euch a course. For ■much the same reason, I could not regard it ac a proper time to launch out on any'undertaking involving;the xaieing of loans. Indeed, considering that more; than one-third of the reteeet'present go in the payment of 'interest charges on. Joans, 1 a-m «f opinion .that the city will, i»e "wise to go alow -and steady in regard' to borrowing for come time yet."
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Bibliographic details
Auckland Star, Volume XLIV, Issue 92, 18 April 1913, Page 7
Word Count
178SLOW AND STEADY. Auckland Star, Volume XLIV, Issue 92, 18 April 1913, Page 7
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