LOAN TRANSFERS
OFFER TO POWER BOARD
(Per Press Association.— Copyright.)
WANGANUI,, June 14
Conceding the full 20 per cent: reduction in the interest now operative ill New Zealand, the A.M.P. Society has offered the Wanganui-Rangitikei Electric Power Board an opportunity, to ' ransfer three loans to < the Dominion, thereby making a considerable saving' to the Board. J
Under the existing contracts the Board is committed to pay £560,055?:,0u tlu'oe, loans that were domiciled in Sydney, but the new arrangement will provide for the repayment '.to; amount to £491,634. The result > will be. an aggregate saving to the Board .. of £67,005. '. I " . ■ f The offer was made in view of the fact that the. Board accepted the verdict of the High Court of Australia in connection , with /the receht test case. The Board carried a resolution expressing appreciation of • the Society’s generous offer.
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https://paperspast.natlib.govt.nz/newspapers/HOG19340615.2.39
Bibliographic details
Hokitika Guardian, 15 June 1934, Page 5
Word Count
141LOAN TRANSFERS Hokitika Guardian, 15 June 1934, Page 5
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