AUCKLAND LOANS
Poor Public Response fN.Z. Press Association > AUCKLAND. September 7. The public response to local-body loans floated in Auckland is so sluggish that works programmes may have to be curtailed. Underwriters have warned the Auckland Harbour Board that it will have to cut back its programme for next year unless the position improves. The board’s treasurer, Mr C C. Hickson, said three loan issues totalling £BBO.OOO had been under-subscribed by 39 per cent. The board will have two more loans on the market this year—one for £lOO,OOO and a' redemption issue of £250,000.
The secretary of the Auckland Electric-power Board, Mr J. A. Longbottom, said a board loan of £BOO,OOO, which had been on the market since the beginning of the year, was still only 63 per cent subscribed. “If we can’t improve the position in the next six months it could lead us to cutting down our works programme,” he said.
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Bibliographic details
Press, Volume CVI, Issue 31159, 8 September 1966, Page 18
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153AUCKLAND LOANS Press, Volume CVI, Issue 31159, 8 September 1966, Page 18
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