DRAINAGE BOARD LOANS
INCREASED RATE OF SUBSCRIPTIONS
Since April 1, subscriptions to Christchurch Drainage Board loans have amounted to £87,250, including £39,450 from May 8. “This is a better response than has been experienced since April of last year, when the loan issue then placed on the market resulted in subscriptions of £39,400 in the first month,” the finance committee reported to the board last evening. “Most of the money has been channelled into the No. 1 Loan Account, where the board's commitments with the northern relief sewer and new main pumping station are very heavy. “The position will be watched closely over the next few months, as the opening of a new Government loan issue has usually resulted in a slowing down in the rate of subscription in the board's loans,” the committee said. The board was advised that the Local Government Loans Board had recommended the issue of an Order-in-Council consenting to the raising of a further £200,000 of the board’s 1954 sewerage loan of £BOO,OOO.
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Bibliographic details
Press, Volume XCIII, Issue 27999, 20 June 1956, Page 12
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168DRAINAGE BOARD LOANS Press, Volume XCIII, Issue 27999, 20 June 1956, Page 12
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