RATE OF INTEREST.
x oi-UCTION IN WELLINGTON
LOANS TO CITY COUNCIL.
,I; - V '-Tclp^raph.—Own Correspondent.)
WELLINGTON", thU day. Until recently money lent locallv to the City Council received interest at the rate of 5J per cent, but prior to the New lear it was decided to pay on the basis of »J per cent. Even at the reduced rate a total of £20.000 was lent to the council over the counter last week. The decrease in interest was made because ot the easier position in the monev market. There is a feeling of exneJUncy that the rate generally throughout New Zealand will now be reduced U» •»i per cent.
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Bibliographic details
Auckland Star, Volume LX, Issue 12, 15 January 1929, Page 8
Word Count
109RATE OF INTEREST. Auckland Star, Volume LX, Issue 12, 15 January 1929, Page 8
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