What Might Have Been

Northern Advocate, 12 May 1939, Page 9

What Might Have Been

I Per Press Association. Copyright] NEW PLYMOUTH. This Day.

“T am satisfied vve are paying half per cent, more for the loan than we would have to pay had we had a free

hand to make cur own arrangements." said the chairman of the New Plymouth Harbour Board, Mr. C. E. Bellringer. when reporting on the completion of negotiations for tire renewal loan of £325/000 in connection with the redemption of two loans that fell due in London on May 1. 1939. More than IB months was necessary to make suitable arrangements for repayment of the loans, said Mr. Bell-

ringer. Efforts to raise the money in England failed, and an endeavour was made to raise the loan in New Zealand, the board being prepared to pay up to 4.1 per cent. As the authority of the Local Government Loans Board to raise the loan stipulated that the interest rate should be 3t per cent., the harbour board was not permitted to offer a higher rate. After exhausting all other avenues, the board raised the loan in Australia at 4per cent. ■ •‘Had we been allowed to go on the market when we began negotiations," Mr. Bellringer slated. “I am sure we would have secured the money."

West Indian Cricketers Lead Lancashire

(Received 12.30 p.m.) LONDON, May 31. At the end of the second day’s play at Liverpool the position was; —Lancashire: First, innings, 226; second innings, 142 for three wickets. West Indies: First innings, 236 (Pnillipson five for 48).