RAISED LOCAL LOANS.
DUNEBIN COUNCIL'S GAIN. . (By Telegraph,—Own Correspondent.) DUNEDLY, this day. The town clci-k, Mr. G. A. Lewin, in his review of city finances, gives prominence to the advantage of the council's policy in using the local market for its loan requirements. Dunedin's position is unique as, in comparison' with other of the larger local authorities, only a relatively email portion of its loan indebtedness is domiciled in London. The statutory reduction, up to 20 per cent in interest rates does not apply to London loans, whereas the rise in exchange rate greatly increases the cost of London money.
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Bibliographic details
Auckland Star, Volume LXIV, Issue 73, 28 March 1933, Page 8
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100RAISED LOCAL LOANS. Auckland Star, Volume LXIV, Issue 73, 28 March 1933, Page 8
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