FEW LIABILITIES
OHINEMURI COUNTY PUBLIC DEBT ONLY £1651 MOST UNUSUAL POSITION The net public debt of the Ohinemuri County Council is really only £1651, stated the report of the countj- clerk, Mr A. A. Jenkinson, to the last meeting of the council. The report disclosed a very interesting and most satisfactory financial position. “ The total public debt as shown in the public debt statement is £4544, but from this can be deducted sinking funds accrued to March 31, 1949, totalling £1248, and also the amount paid off the balance of the Mangaiti bridge loan, £351. This gives a net public debt at March 31, 1949, of £2945, a reduction during the year of £9BB.
“ The rural housing advances are of course covered by private security and the amounts are actually owing by two settlers (another settler paid the balance of his loan, £595, during the year). This item of £1294 is therefore only nominally portion of the public debt and if it were deducted the public debt would stand at £1651,” concludes the report.
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Bibliographic details
Hauraki Plains Gazette, Volume 58, Issue 4144, 8 June 1949, Page 6
Word Count
174FEW LIABILITIES Hauraki Plains Gazette, Volume 58, Issue 4144, 8 June 1949, Page 6
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