Better Month For Local Body Loans
August was a better month for Canterbury local body loans and most authorities reported more interest in fixed-interest securities.
A total of £H0,910 was’ raised towards loans in and around Christchurch. The Ashburton Electric Power and Gas Board raised £5500 during the month, filling the first £20,000 section of its current £60,000 loan. The board will not be on the market again until February. It now has enough money to carry out work in hand.
The Lyttelton Harbour Board has £182,850 outstanding on the second £250,000 stage of the No. 10 port development loan; £45,550 was subscribed during the month. The Heathcote County Council received £14,410 leaving £62,590 still available.
The Central Canterbury Electric Power Board raised £13,000 towards the No. 17 reticulation loan and £2OOO towards the Banks Peninsula loan which now needs only £4500. The Paparua County Council had £l6OO subscribed to its high pressure water supply loan and £225 1 to the rural townships development loan. During August the Christchurch City Council offered £50.600 of the Burnside memorial highway loan for renewal. Almost all of the 5| per cent 10-year stock was renewed and only £3OOO remains to be taken up.
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Bibliographic details
Press, Volume CVI, Issue 31154, 2 September 1966, Page 14
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200Better Month For Local Body Loans Press, Volume CVI, Issue 31154, 2 September 1966, Page 14
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