£1,069,300 REQUIRED.
LOANS IN WELLINGTON.
RENEWALS DUE THIS YEAR.
(By TOegieph.—Trent AaaoeUttoa.) WEUJNGTON, Monday. A decision to apply to tbe Local Government Loans Board for permission to raise £1,069,300 in New Zealand to meet renewals of certain loans falling due this year was reached by the Wellington City Council to-day.
The Mayor, Mr. T. C. A. Hislop. said it was necessary to raise tlie money internally because there was no chance of getting it on the London market, where all available moneys were going to essential war-time par poses. Tbe amount required, said Mr. Hislop, included provision for exchange. There was a water supply loan, less sinking fund, making a net amount of £537,000; electric power construction and tramway improvement loan, £510.000 (net £480,000); and a street renewal loan of £47,000.
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Bibliographic details
Auckland Star, Volume LXXI, Issue 84, 9 April 1940, Page 11
Word Count
131£1,069,300 REQUIRED. Auckland Star, Volume LXXI, Issue 84, 9 April 1940, Page 11
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