LOCAL BODY CREDITS.
PROPOSED INVESTMENT. Per Press Association. CHRISTCHURCH, April 4 The possibility of investing credit balances held by local bodies and using tiie interest to offset interest due to he paid by local bodies was suggested by Air \\ . Alaehin, at a meeting of the Riccarton Borough Council. . Mr Alaehin said the matter might he carried far enough to include a national scheme. There was ail cnormous amount ol money to the eiedit of local bodies for the greater part of the year which carried no interest at all. The Mayor, Mr H. S. S. Kyle, M.I ~ said that the same state of affairs obtained with the Government. While some accounts were in credit others were paying out on overdrafts.
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Bibliographic details
Manawatu Standard, Volume LIII, Issue 109, 5 April 1933, Page 3
Word Count
120LOCAL BODY CREDITS. Manawatu Standard, Volume LIII, Issue 109, 5 April 1933, Page 3
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