NO MONEY
WELLINGTON CITY COUNCIL. CANNOT FLOAT ITS LOAN. CHRISTCHURCH, November 29. The reluctance of tho inA'csting public to take up the City Council 5.. per ceut". debentures at par is likely to cause -very serious embarrassment shortly in the matter of carrying out various authorised works. The' value of the unsold debentures is £125,430. ; 7 ■■ ,'■'•: Itwas pointed out at to-night 's riie'eti ing'of the City Council that unless the position were faced -there would probably come down a report that the number of men employed should be reduced. Tho Council was already up to the hilt in tho matter of expenditure,' and must call a haltl At the rate things Avere going, the Tatepay ers would nave to face something like a ?V.!_ Vf T *«*•_ increase in rates next year. ' *»' '"'..'" "'" '"•;->' ' ' '
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https://paperspast.natlib.govt.nz/newspapers/GRA19201130.2.61
Bibliographic details
Grey River Argus, 30 November 1920, Page 3
Word Count
131NO MONEY Grey River Argus, 30 November 1920, Page 3
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