LOCAL BODY LOAN FINANCE
Sir, —Kindly allow me to congratulate Messrs Burk and Glue upon the honesty and soundness of their advice to prospective investors in Harbour Board debentures during the present period of uncertainty over interest rates. Some are feeling sore because, having subscribed during the past month or two, they now find that the rate of interest has increased—but not to them —and the market value of their investment has fallen. I have always advocated reasonably low interest rates (adjusted, say, every five years). A rate of 42 per cent, on local body loans has now only a modest relationship to other high returns. Many experienced people are expecting some adjustment, and the sooner a decision is made, and firmly adhered to, the sooner confidence will return, and the quicker will local bodies get their “sinews of war.”— Yours, etc., Wm. MACHIN. March 9, 1956.
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Press, Volume XCIII, Issue 27914, 10 March 1956, Page 5
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147LOCAL BODY LOAN FINANCE Press, Volume XCIII, Issue 27914, 10 March 1956, Page 5
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