Sinking Fund Bill Brings Forth Protest
RIGHTS OF INVESTORS Per Press Association. GISBORNE, Last Night. Resentment against the Sinking Fund Bill and its interference with litigation pending between tho Poverty Bay Power Board and the Public Trustee was shown at to-day’s meeting of tho Harbour Board, when the following resolution was carried unanimously: “This board protests against the Government’s arbitrary interference with tho legal rights of the Poverty Bay Electric Power Board and points out that this action is likely to be most damaging to the credit not only of tho Public Trustee but also of the Government itself.” Mr. I. Todd characterised the Bill as an extraordinary interference with the rights of investors. Dr. Collins stated that as a result of tho developments, he had been trying to withdraw money from the common fund in case legislation was passed to cover private investments as well.
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https://paperspast.natlib.govt.nz/newspapers/MT19321101.2.49
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Manawatu Times, Volume LV, Issue 6993, 1 November 1932, Page 6
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146Sinking Fund Bill Brings Forth Protest Manawatu Times, Volume LV, Issue 6993, 1 November 1932, Page 6
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