Subscriptions To Local Body Loans Down In April

Press, Volume XCIX, Issue 29192, 30 April 1960, Page 16

Subscriptions To Local Body Loans Down In April

Subscriptions to loans of local bodies in Christchurch and North Canterbury were sharply reduced this month compared with the £324,000 raised in March. This month’s total was £250,500, which compares with £287,270 in April of last year. Two underwritten loans which came on the market at the beginning of the month met a good response. They were the Lyttelton Harbour Board’s £150,000 loan and the Norths Canterbury Hospital Board’s £175,000 development loan. The hospital board

has already raised £130.000 and the harbour board £89,000. Officers of these bodies were pleased with the progress of their loans and expected only small proportions to be taken up by the underwriters. The Christchurch Drainage IJoard will come on the market on Monday with a big 10an—£250,000, required to finance the new sewage treatment works. Details of money subscribed to loans offered by local bodies in Christchurch and North Canterbury this month, with the amount outstanding in each case, are as fol-

lows Raised Outst’g £ £ Harbour Brd. .. 89,100 60,900 Hospital Brd. .. 130.430 44,570 Transport Brd. .. 14.620 32.300 Paparua C.C. .. nil 17,550 Waimairi C.C. .. 5.100 15.600 Rlccarton B.C. .. nil 6.050 Ch’ch C.C. .. 11,300 nil Totals .. 250,550 176,970