STATE ADVANCES.

Dominion, Volume 3, Issue 770, 19 March 1910, Page 10

STATE ADVANCES.

APPROVED. LOANS TOTAL £C! 2,000.

STATEMENT. BY:THE PREMIER. ■;: .-■•■ -..-' .'■ ' ' " ■■' . v.. ,: -. :

Tho;State.Cinaranbetd Advances Boar'd Inet yesterday;'. Sir ■ Jorepk. Ward presiding, and tlie- whole of rto members, ifrsSrs. Poyntos,V ' .Wsibur'lon, Dr. ;!•. chett, Salmond, aiid Keiubers were pre-. sent.•;■■-.• ':■-■■: ■■■ V ' ■:■:•:■■';. .■ ■...■.■'■ '..".•■.- ■

IntervieWGd by aDominion reporter, Sir Joseph .stated that n large :numbcr. of loans for local public bodies for various purposes, \rero. considered,. and, loans vrere provisionally approved to the extent of : £612,000,: Preference was given -to. ' lo : cdl'-bodies applying for moneys for roads, bridges, sewsrags, .drainage; ■ and water purposes, .and. thoso local bodies meeting backblock requirements wwe first considered, and, where the securities wisre right the applications in iaeh case , were granted. *.The whole of tho loans were granted at.3£" per cent, interest, with _-a •inking fund as' provided under tho Act.

,; ; Sir .Joseph went, on to. say. that so:v' idea'of tho Value of the iiow system'.tr the local • public ■V'lica might be.gauged frdin. the ;fact that , the amounts authorised at tho meeting; totalled more thai' three , times the whole amounts granted during any one- year under the old fv: . tem of the Loans to local Public Bodies Acjfc. The loans authorised ranged from JCSbp to ''£60,000, dnd these amounts when, expended on the various local .bodies in their' centres m\\ mean the prorision or maiiy: necessary .Tvbrks,' and will add, ■. the comfort atld convenience of'the ptb-' pie in different portions of the Dominion.', ■■' In cpiiclusioft, Sir: Joseph, remarlced that. th 6' .'local', bodies dealt with, covered the .whole of .the •Dominion , • from;.; the north; of Aucklaiid' to .'the Wallaco.,d:(; tricfc iii tlio. far south'. The various piili' lio bodies will be advised to-day of fir-; Kesuit of their applications. .- .-■...•■