Local Bodies Raised £53,720 During June

Press, Volume CII, Issue 30178, 9 July 1963, Page 17

Local Bodies Raised £53,720 During June

Three local bodies in Canterbury and one in Christchurch raised £53,720 for their loans during June. This compares with £178.950 raised by six local bodies in May and £199,440 raised by three local bodies in June last year. The Christchurch Drainage Board raised the most during the month —nearly £50.000. A board spokesman said that although the loan had not been pushed, the money had been coming in steadily. He said he expected the loan to be filled “in a matter of weeks.”

Subscriptions totalling £970 cleared up the balance of the Ashburton Elactrie Power and Gas Board's loan. The board may corpe on the market again in September. During the month, £3OOO was subscribed to the Central Canterbury Electric Power Board’s No. 16 Reticulation Loan. So far, £39.820 has been subscribed to this £75,000 loan, leaving £35.180 still to be raised. The North Canterbury Electric Power Board raised £3OO during June and the outstanding £4OO of its loan has been subscribed this month. Details of loans raised last

month, with the aipount outstanding in each case, are as follows: Raised Out stg. £ £

Central Canty. E.P.B. North Canty. E.P.B. Chch. Drain. Bd. Ash. E.P. and GB. 3.000 300 49.450 970 35.130 400* 51.330 Totals 53.720 86,930 •Since subscribed.