LOCAL BODY LOANS
UNATTRACTIVE INTEREST RATE
The difficulty experienced by local bodies in raising loans at the rate ot 3i per cent, fixed by the Local Government Loans Board was mentioned at the meeting of the Whangarei Hospital Board on Monday, when the chairman, Mr. J. A. S. Mackay, said in reply to a question that although the board's building extension loan of £25 000 had been approved 15 months ago, it had not been possible to raise the money at 3J per cent. Mr. J. G. Barclay, M.P., said that the various Government departments lent money on gilt-edge security at 3, per cent., but unless they had reserves they could not always do so, and at the present moment there were none available. Mr. Barclay said he would do his best in Wellington.
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https://paperspast.natlib.govt.nz/newspapers/EP19370617.2.143.11
Bibliographic details
Evening Post, Volume CXXIII, Issue 142, 17 June 1937, Page 12
Word Count
134LOCAL BODY LOANS Evening Post, Volume CXXIII, Issue 142, 17 June 1937, Page 12
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