LOCAL BODY LOANS
Quiet Response In October Investors gave £36,900 to four local body loans on the market during October. Most was given to the Lyttelton Harbour Board’s Port Development Loan (No. 10) 1965 of £500,000. The first instalment of £250,000 which opened on October 1 received £26,400 by the end of the month. The Central Canterbury Electric Power Board collected £B2OO towards its £lOO,OOO No. 17 reticulation loan and needs another £20,690. Another £2300 was paid into the Waimairi County Council’s seven loans on the market which need £2900 to be filled. Fair Response There was only a fair response to the Heathcote County Council’s No. 1 electrical loan of £30,000, and the £17,000 outstanding at the end of September altered little. Three loans will come on to the market on Monday, two from the Paparua County Council and one from the Central Canterbury Electric Power Board. The two Paparua loans are the £20,000 second issue, rural townships development, and the £44,000 high-pressure water scheme extension. The power board’s loan is a redemption one of £53,000. All loans are for 10-year periods and carry an interest rate of 54 per cent
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Bibliographic details
Press, Volume CIV, Issue 30895, 30 October 1965, Page 20
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192LOCAL BODY LOANS Press, Volume CIV, Issue 30895, 30 October 1965, Page 20
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