WELLINGTON CITY LOAN
THE RAT 3OF INTEREST.
Tho Gazette contains a notice authori» ing- the Wellington City Council to borrow the ■ sum. of £100,000. (part of the loan authorised by the public) within Australasia at 65 per cent This sum is part of the £1,750,000 loan, the raising of which was authorised by the ratepayers a year ago. Efforts had been made by the City Council to obtain £100,000 of.the loan money in New Zealand and Australia, but owing to the rate of interest being too low only about £13,000 was secured, and recently the council decided to go on the London market for £750,000. It had been sought by the council to obtain authority to raise all future loans at 65 per cent., but, apparently, permission has only been granted to pay that rate on tho sum of £100,000 mentioned in the gazetted notice.
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Bibliographic details
Evening Post, Volume CII, Issue 61, 9 September 1921, Page 8
Word Count
145WELLINGTON CITY LOAN Evening Post, Volume CII, Issue 61, 9 September 1921, Page 8
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