REDUCED INTEREST CHARGES
SAVING OF £875 TO POWER, BOARD BENEFITS UNDER RECENT ACT Under the provisions of the National Expenditure Adjustment Act, 1932, tlie South Taranaki Power Board will save approximately' £875 in interest ciiargqs annually-. To offset this amount the board will sustain losses of interest on invested reserves and sinking funds, also through, reduced rents from its farm and shop properties. The actual position of uhe board is that it (has already suffered a reduction in its interest and sinking fund investments aud what further amount will be lost under the Act will not be known until the Public Trustee has advised the board in that connection. The board’s rate of interest has been reduced from 8 per cent, to per cent, under the Act, and to bring about a uniformity over its. advances in that connection the board has decided to fix : -rate a t6J- per cent, as from May 14.
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https://paperspast.natlib.govt.nz/newspapers/HAWST19320521.2.28
Bibliographic details
Hawera Star, Volume LI, 21 May 1932, Page 4
Word Count
154REDUCED INTEREST CHARGES Hawera Star, Volume LI, 21 May 1932, Page 4
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