LOAN CONVERSION.
A CHRISTCHURCH OPERATION. Per Press Association. Nov. 20. Formal resolutions for the conversion of the Christchurch Drainage Board’s loans, amounting to £948,600, were passed at a meeting of the board this evening. The conversion scheme is one of the biggest undertaken by any local body in blew Zealand. The rates of interest previously varied from 51 to 5J per cent. These rates were reduced under the Government’s order of a 20 per cent, reduction to £4 5s to £4 12s per cent. Under the conversion scheme there will be an overall rate of £4 5s per cent.
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Bibliographic details
Manawatu Standard, Volume LIV, Issue 304, 21 November 1934, Page 9
Word Count
99LOAN CONVERSION. Manawatu Standard, Volume LIV, Issue 304, 21 November 1934, Page 9
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