THAMES FINANCES
Authorities for Loans SUPERVISION BY BOARD In replying to questions as to whether the Local Government Loans Board had not exercised its powers concerning borrowing by the rh ames Borough Council and the Thames Harbour Board, which are in financial difficulties, the Prime Minister, Rt. Hon. G XV. Forbes, who is actlng-Minlster of Finance, said yesterday that with two exceptions all the loans raised by these bodies had been raised before the board commenced to function. Mr Forbes said his attention had been drawn to a Press statement suggesting that information should be obtained as to whether the Local Government Loans Board has sanctioned the raising of any loans by the Thames Borough Council or by the Thames Harbour Board. He said that with the two exceptions all the loans of the two local authorities were authorised and raised before the board was operating. “Soon after the Local Government Loans Boarii Act, 1926, came into operation, on April 1,1927, the loans board approved of two 10 per cent supplementary loans authorised under Section 19 of the Local Bodies’ Loans Act, 1926, for completing loan works previously authorised by a poll of ratepayers,” Mr. Forbes added.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19320804.2.54
Bibliographic details
Dominion, Volume 25, Issue 265, 4 August 1932, Page 8
Word Count
197THAMES FINANCES Dominion, Volume 25, Issue 265, 4 August 1932, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in