POWER BOARD LOANS
INVESTMENT OF SURPLUS PONDS. Probably one of the most Important topics; of discussion at the conference of Power Board Secretaries at Dunedin lasi week was that of one Board lending surplus moneys to another, Mr. J. A. Nash, M.P., who presided at the conference, explained yesterday that some Power Boards had surplus moneys at preset! tin vested with banks 1 for short periods. Previously, the Public Trustee took these surpluses, but lately had declined to borrow any more. The proposal brought before the conference was. that a Board with a surplus should lend at a > reasonable rate of interest to any other Board that might require money.
Mr. Nash recommended the conference to write to th e secretary of the Power Boards’ Association on the matter. He was president of that Association and assured' the meeting that the matter would be discussed by the executive at an early date.
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Manawatu Times, Volume XLIX, Issue 3263, 5 February 1926, Page 6
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152POWER BOARD LOANS Manawatu Times, Volume XLIX, Issue 3263, 5 February 1926, Page 6
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