Drainage Board Had Record Subscriptions Last Month
Subscriptiona totalling £199,140 —the biggest monthly sum subscribed to any local body in Canterbury this jam—were made to the Christchurch Drainage Board’s £240,000 retictdation loan during September. The loan, opened at the beginning of the month, now needs only £41,860 During the month, £37,700 was subscribed to the Lyttelton Harbour Board’s £lOO,OOO loan. The loan, also opened at the beginning of September, is for harbour improvement schemes. The board’s secretary-manager (Mr A. L. Burk) said yesterday: ’’The subscriptions are coming in quite nicely.” The Ashburton Electric Power and Gas Board’s £20,000 loan—the
third section of Ms £lOO,OOO loan —was fully subscribed in July. The board's engineer-secretary (Mr D. J. Bums) said yesterday that the section was opened in the third week of July and was subscribed by the end of the month.
Many of the subscribers had been waiting for the section to be opened and “money, was waiting,” be said. Mr Binns added that the board expected to come on to the market again late in November or early in December. The Christchurch City Council is coming on to the market again on Monday with a £160,000 loan. - >
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Press, Volume XCIX, Issue 29324, 1 October 1960, Page 16
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196Drainage Board Had Record Subscriptions Last Month Press, Volume XCIX, Issue 29324, 1 October 1960, Page 16
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