LOAN DIFFICULTY
LOCAL BODY WORK HELD UP [l’kii Unitcn Press Association.] CHRISTCHURCH, September 10. Considerable difficulty in raising a special loan of £1.050 at If.]- per cent, for sower construction on St. Andrew’s Hill is being experienced by the Hoathcote County Council. The county chairman (Mr A. G. Williams) reported that the position was serious, ft was only a small amount of money, but work which was necessary was being held for want of it. . 'Reporting that since the last meeting he had been unable to make any progress towards arranging a loan, the county clerk (Mr J. P. E. Veale) said that he had received a letter from the Minister of Finance (Hon. W. Nash) stating that new arrangements in the State Advances Corporation to deal with such loans might in the near future provide the money needed. So far, however, ho had ’not received advice from the corporation. On a trip to Wellington that he was making m the near future lie would try to assist the position by making personal contacts. Other members said that local bodies all over New Zealand were having trouble in raising such 3J per cent loans. Mr F. W. Freeman: But according to the Supplementary Estimates money seems plentiful enough.
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Evening Star, Issue 23065, 17 September 1938, Page 32
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208LOAN DIFFICULTY Evening Star, Issue 23065, 17 September 1938, Page 32
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