EARTHQUAKE LOANS
GOVERNMENT REFUSES CANCELLATION INTEREST RATE LOWERED [Per United Press Association.! NAPIER, November 10. While declining to cancel the earthquake loans granted to Hawke’s Bay local authorities following the 1931 disaster, the Government has announced a reduction of the interest on the amounts owing from 4 to 3-t per cent. The Government some time ago remitted a £101,200 loan to Napier City Council owing to special circumstances involved. Applications for similar treatment have been made on behalf of the' Hawke’s Bay Hospital Board (£66,850), the Napier Harbour Board (£230,500), the Hastings Borough Council (£11,000). the Hawke’s Bay Rivers Board (£11,000), the Hawke’s Bay County Council (£3,000), the Taradale Town Board (£2,500), and the Havelock Nprth Town Board (£1,900), but the Minister of Finance (Mr Nash) has advised that the Government is unable to agree that it would be justified in remitting any portion of the amounts owing.
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https://paperspast.natlib.govt.nz/newspapers/ESD19371110.2.96
Bibliographic details
Evening Star, Issue 22802, 10 November 1937, Page 8
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148EARTHQUAKE LOANS Evening Star, Issue 22802, 10 November 1937, Page 8
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