AUCKLAND CITY INVESTMENTS
A general fall in interest earning rates over the- past' few years was shown in the accounts of the city sinking fund commissioners submitted to a special meeting of the Auckland City Council. The return of investments was for the year ended" March 31, 1940, and it was shown there was £1,610,758 invested, in mortgages, fix.cd deposits, debentures, and inscribed stock. Mortgages represented just over 50 per cent, of the total. Whereas in the previous year" inscribed stock formed 30 per cent, of the total investments, this figure had dropped t io 7 per cent, while the amount at fixed deposit represented 33.2 per cent, of the funds, compared with 3.7 per cent, a year earlier. Referring to this variation in the investments, the City Treasurer (Mr. T. W. M. Ashby) said it would appear that the average net rate of interest on the investments was the lowest on record, amounting to 3.239 per cent., compared with 6.359 per cent, in 1930----•31, the highest for the past 20 years.
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https://paperspast.natlib.govt.nz/newspapers/EP19410215.2.32
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Evening Post, Volume CXXXI, Issue 39, 15 February 1941, Page 8
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172AUCKLAND CITY INVESTMENTS Evening Post, Volume CXXXI, Issue 39, 15 February 1941, Page 8
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