£6m German Loan Planned

Press, Volume CVI, Issue 31307, 1 March 1967, Page 3

£6m German Loan Planned

(New Zealand Press Association) WELLINGTON, February 28. The acting Minister of Finance (Mr Muldoon) announced today that arrangements were being made to raise a 15-year sterling Deutschemark loan of about £6,750,000.

The Minister said that the loan was being underwritten by a group comprising financial houses in the United Kingdom, Europe and the United States. Indications Hobby Classes Restricted (N.Z. Press Association) WELLINGTON, Feb. 28. The Department of Education has temporarily halted any expansion of adult hobby classes in response to the Government’s recent directive that departmental expenditure should be checked, the Director-General of Education (Dr. K. J. Sheen) announced today. Carriers Hit (N Z. Press Association) AUCKLAND, Feb. 28. The Government’s economic measures were having a severe effect on carriers, the Auckland Owner-Driver Carriers’ Association president, Mr S. Burman, said today. He said there was a noticeable drop in the quantity of carrying work offering. Several members had trucks idle at what was normally a busy period. Some had had to lay off men.

! were that the terms would be l as favourable as could be j obtained overseas at the pres- ; ent time. The Minister added that ’ the net overseas borrowing for this financial year, after meeting overseas redemptions but including this issue, would amount to £3l million.