FUNDS FOR TUG
The Lyttelton Harbour Board will be able to finance the purchase of its new tug, estimated to. cost $666,334 and to be built at Whangarei, without resource to loan money.
Mr A. A. Macfarlane, chairman of the finance committee, told the board yesterday that there was $559,880 available in the floating plant renewal fund. This would earn another year’s interest before it was called on; and there was about $500,000 in the board’s special renewal fund which could be used to meet the balance.
“A splendid example of prudent financial administration,” was Sir George Manning’s comment
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Bibliographic details
Press, Volume CIX, Issue 32060, 7 August 1969, Page 9
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99FUNDS FOR TUG Press, Volume CIX, Issue 32060, 7 August 1969, Page 9
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