Local Bodies Raised £327,600 In September

Press, Volume C, Issue 29634, 3 October 1961, Page 19

Local Bodies Raised £327,600 In September

Local bodies in the Christ-,1 church and Ashburton areas ; raised £327,600 in loans last 1 month—the highest monthly i total since £380,210 was raised in July of 1959. i Last month’s total included 1 £170.620 raised by the 1 Christchurch Drainage Board i and £130.000 raised by the 1 'Christchurch City Council. 1 The City Council came on < j the market at the beginning i lof the month with a £130.000 i .loan, which was filled in less 1 I than two weeks. TTje Drain- 1 'age Board floated a new , £225.000 loan—which had attracted nearly £149.000 by , ' ' ■ ' - i

,the end of the month—and also had two other smaller loans on the market at the same time. The Paparua County Council, which still needs more I’tan £20,000 for a water supply scheme, is probably in more urgent need of funds than any of the larger local bodies. An officer of the council said yesterday that subscriptions of . £2600 last month barely covered the month’s contnict expenditure. Detail* of loans raised in Christchurch and Ashburton last month, with the amounts outstanding m each case, are as follows: |

Vi «» rta taimdry. Recommended annual dividend on th* capital increased by last year’s one-for-one bonus issue Is 10 ger eent . Last year th* dividend on the old capital was 17 P«r cent., inchnfing a bonus.

Raised Outst’g. Drainage Bd. 170,630 . .45 - 71420 Harbour Bd. .. 21.380 *3.710 Faparua C.C. *600 22,100 Ash. E.P.. G.B. 3.090 M.000 Citv Council ,, 130.000 Total 327,800 131,130