ELECTRIC POWER.
FINANCE DIFFICULTIES. In reply to a questioning ratepayer at the meeting in Palmerston North last evening, the Mayor (Mr J. a. Nash, M.P.) mentioned that the difficulty in proceeding with the borough electrical works was largely due to the fact that the Council were unable to obtain sufficient money on the loans sanctioned. It was impossible to get any loans raised in New Zealand to-day, and there was a good deal of difficulty attached to procuring money from the London market. The Council had found at the last moment that they would have to get the loans consolidated, and an Empowering Bill, which he hoped would be passed in a day or two, was at present before the House. At the present time a considerable amount of machinery the Council had on hand was suffering, and they wantea to get it up as quickly as possible. If the Bill went through, the Council should be able to raise the money in two or three months' times, and electric light would be installed within twelve months of the date tho money was procured.
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Bibliographic details
Manawatu Times, Volume XLVI, Issue 1979, 22 November 1921, Page 5
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184ELECTRIC POWER. Manawatu Times, Volume XLVI, Issue 1979, 22 November 1921, Page 5
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