LONDON INTEREST
Southland Board’s Case PROSPECT OF SETTLEMENT There appears to be now a definite prospect of an amicable settlement of the dispute between the Government •and the Southland Electric Power Board over the basis of overseas interest payments. In a telegram sent on Monday to the Minister of Finance, Rt. Hon. J. G. Coates, the chairman of the board, Mr. W. Hinchey, made the suggestion that the extra amount required as a result of the raising of exchange for the payment of interest in sterling should be financed by a temporary loan to be merged with the principal loan upon its maturity and conversion. It is understood that the Local Government Loans Board at a meeting yesterday approved the general terms of Mr. Hinchey’s telegram as a basis of negotiation. Mr. Hinchey and the board’s secretary, Mr. C. Campbell, are, it is believed, leaving Invercargill for Wellington to-day, and will upon their arrival discuss details of the proposal with the Loans Board. A settlement of the difference is generally anticipated.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19331213.2.82
Bibliographic details
Dominion, Volume 27, Issue 68, 13 December 1933, Page 10
Word Count
171LONDON INTEREST Dominion, Volume 27, Issue 68, 13 December 1933, Page 10
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