LOCAL BODY LOANS

Press, Volume XCIV, Issue 28013, 6 July 1956, Page 18

LOCAL BODY LOANS

PLANNED APPROACH TO MARKET

Another conference of local bodies in and around Christchurch to discuss local body finance has been called by the Mayor of Christchurch (Mr R. M. Macfarlane, M.P.) for August 1. Earlier this year a conference was called by the Kaiapoi Borough Council, and from it a deputation waited on the Minister of Finance (Mr J. T. Watts) and discussed the difficulty of raising loans. Since then the position had eased for most of the bodies affected, and the conference called by the Mayor is to discuss co-ordination of approach to the market."

That was one of the suggestions made by the Minister. He proposed that local authorities should determine their loan requirements for the next two years, and try to plan their approach to investors so that all would not be seeking money at the same time.

Explosion in Beer Cellar When a barman at the Carlton Club Hotel, Hastings, went into the cellar he found that the beer storage tank tap had not been properly turned off. He moved to attend to it, and an explosion blew him off his feet. The barman. Mr Sidney Miles, aged 42,

| suffered minor facial injuries, mainly ' to the nose, and slight cuts and bruises to the legs. He was admitted to hospital. where his condition is reported to be satisfactory. No damage was done in the ce’lar. It is assumed that a sas pocket caused the explosion.— 1 (P.A.)