WELLINGTON MUNICIPAL LOANS.
(press association telegram.) WELLINGTON, July 18. At the City Council the Finance Com* mittee reported that they had had two coa« ferences with several city gentlemen as to the conversion of the city loans. The majority of them were against attempting to couvert the loans at present, though some of them wore in favour of an attempt especially with regard to the consolidated loan (which ma turns in eleveu years aud a half). The Committee recommended that information should be obtained from the bondholders as to the extent of the response likely to be made to the Council's proposals, . also that by the timo such iiifontiation wu obtained something should be known as to the success of the experiment now being made by the Duuedm (Jay Council, aud * more reliable opinion cau then be formed. The Mayor explained at length the acbeine and said the opinion of numy of those in London wa.3 that the present time wu opportune. He also mentioned th&o if the conversion were a success it would result) in saving interest alone of some £5000 to £7000 annually. The report of thr Committee was adopted.
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Press, Volume LII, Issue 9161, 19 July 1895, Page 6
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192WELLINGTON MUNICIPAL LOANS. Press, Volume LII, Issue 9161, 19 July 1895, Page 6
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