LOCAL BODY DEBENTURES.
LYTTELTON * HARBOUR LOAN. [BT telegbaph.—bbess ASSOCIATION.]' CHEISTCHURCH. Wednesday. ,'. The trouble experienced by local bodies in placing debentures at the authorised rate of interest was briefly discussed by the Lyttelton Harbour Board to-day, when Dr. Thacker, MP., remarked that Auckland had "got in first with permission to sell its debentures on a more attractive basis. -He moved that the board should ask for the same permission. He said the Prime Minister had promised to place no obstacle in the way of the board. ; '- :
The Hon. E. Moore said it would be inadvisable to issue debentures at any great discount. The stringency would not last long. The chairman, Mr. H. B. Sorensen said he was nofc-m favour of selling the board's bonds at any discount, but there could be no harm -in making general application, The board did not intend to sell below par. The motion -was carried on the understanding that the board should not sell except man emergency.
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New Zealand Herald, Volume LVII, Issue 17649, 9 December 1920, Page 6
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161LOCAL BODY DEBENTURES. New Zealand Herald, Volume LVII, Issue 17649, 9 December 1920, Page 6
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