Local Bodies Raised £59,040 In December

Press, Volume CII, Issue 30028, 12 January 1963, Page 14

Local Bodies Raised £59,040 In December

Two Christchurch local bodies and one in North Canterbury together raised £59,040 in loan money during December. This compares with the £94,430 raised by local bodies in December the year before. The Lyttelton Harbour Board raised the most during the month. Subscriptions to its loan totalled £34.420. A board spokesman said: “Considering it is all longterm stock we regard it as satisfactory.” There was a “reasonable flow” coming in at the present time, he added. The Christchurch Drainage Board raised £20,120 in December. leaving £42330 outstanding. A Drainage Board spokesman said yesterday: "We have quite a steady flow coming in and hope to clear the rest by the end of this month.”

The North Canterbury Electric Power Board, after getting no subscriptions during November and with £11,200 outstanding at the end of that month, raised £4500 during December. The Christchurch Transport Board raised nothing during the month towards its loan for new buses, but already this month £3OOO in subscriptions has been received. Details of loans raised last month, with the amount outstanding in each case, are as follows:

Transport Bd Drainage Bd. . Harbour Bd. . N.C.E.P.B. Raised .* 20.120 34.420 O’stJ. £ 69.900 42,330 34,000 6.700 Total 59.0« 151.990