CONVERTING CITY LOANS .
COMPLETION OF WORK The main conversion of the Christchurch City Council's loans has now been completed, according to a report presented by the City Treasurer (Mr J. W. Niven) at the meeting of the council last evening. The last application was received early in November. The scheme; involved the issue of 739T debentures in all, the highest in value being of a denomination of £25.000. and the lowest of £lO, most being of £IOO each. The final cost of the conversion, was only £B6B 10s 9d, although £2.200 145.3d (£ISOO from the Sinking Fund Commissioners) and the rest from the Municipal Electricity Department was available to meet these costs. The chief items were: bank agency fee £491 9s 6d, printing debentures. £lls 10s, and j advertising £ll2 6s 6d. The only wages item is clerical assistance, costing £5-6s. The city treasurer thanked the New Zealand Treasury for assistance in the early stages- of the scheme, and Messrs A. M. Owen (M.E.D. staff) and C. S. Bowie and W. H. Parr (City treasury staff) for assistance in various ways.
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Press, Volume LXXI, Issue 21646, 3 December 1935, Page 10
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181CONVERTING CITY LOANS . Press, Volume LXXI, Issue 21646, 3 December 1935, Page 10
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