LOAN CONVERSION
MASTERTON DECISION
(Special to the "Evening Post.") MASTEETON, This Day. I At the annual meeting of the Mastcrtou County Council yesterday, Councillor W. 1., Armstrong was re-elected chairman unopposed. The whole council was constituted a Works, and Finance Committee, of which Councillor H. H. Mawley'was re-elected chairman. The chairman's honorarium was fixed at £uO for the ensuing year. The finance meeting decided to convert all its loans that will be subject to conversion under tho Local Authorities' Interest. Beduction and Loan Conversion Act, 1932-33. This decision was reached after, consideration, had been given to a lengthy memorandum from the chairman of the Local Government Loans Board on the provisions of recent legislation affecting local body finance. The memorandum referred in particular to tho stabilisation of interest charges and the establishment of new low-level basic rates for local body loans in accord with tho rate now established for Government securities.
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Evening Post, Volume CXV, Issue 121, 25 May 1933, Page 12
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151LOAN CONVERSION Evening Post, Volume CXV, Issue 121, 25 May 1933, Page 12
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