LOAN FOR AUCKLAND.
FAVOURABLE TERMS,
Per Press Association. AUCKLAND, Jan. 21. With reference to the Auckland City loan of £400,000 floated in London, tho Mayor, Mr Baildon, states the cost to the city will bo £5 3s 9d per cent, which, in view of the present state of the London market, is considered favourable. This includes 1 per cent, sinking fund, to redeem the loan in 30 years. Most of tho money has already been expended out of ordinary revenue, the authorities dating 1924, for tramways, waterworks and roadworks. Tho reason for not raising tho loan earlier was tho saving of a large sum in interest, but the finances now required to be readjusted.
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Bibliographic details
Manawatu Standard, Volume XLVI, Issue 44, 21 January 1926, Page 8
Word Count
114LOAN FOR AUCKLAND. Manawatu Standard, Volume XLVI, Issue 44, 21 January 1926, Page 8
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