THAMES DEBENTURES.

Auckland Star, Volume LXII, Issue 243, 15 October 1931, Page 7

THAMES DEBENTURES.

DELAY IN PAYMENT, MAYOR STATES POSITION. NEGOTIATIONS PROCEEDING. (By Telegraph.—Own Correspondent.) THAMES, this day. The Thames Borough Council met last evening. Nothing relating to outstanding payments of interest due to, deben-ture-holders was discussed in open council, but in the report of the finance committee the following appeared: — ; "That the following reply be given to inquiries by, debenture-holders with regard to the payment of outstanding interest: That the borough is at present in negotiation with the Government for assistance and is awaiting the final result of such' negotiations. Debentureholders will be advised at the earliest possible date of the result, when it is hoped that all amounts due to debentureholders will be met," One councillor asked the Mayor how matters were proceeding. The Mayor replied that lie had visited Wellington last week and had seen Mr. Collins,, of the Audit Department, who was writing a report, also Mr. Snell, chairman of the investigation committee. He understood the former's report was now with the Prime Minister, who would soon call a meeting to discuss it. The council would no doubt be asked to attend that meeting, but they must remember that the council had placed itself in the committee's hands, and the next step would be taken by the committee.