SATES IN ADVANCE.

New Zealand Herald, Volume LVIII, Issue 17828, 8 July 1921, Page 8

SATES IN ADVANCE.

THE WELLINGTON APPEAL.

FAIR RESPONSE MADE. ONE FIRM PAYS £4:;o. [BY TELEGRAPH. —PRESS ASSOCIATION*.] WELLINGTON". Thursday. There has been a fair response to the appeal made by the Mayor of Wellington, Mr. R. A. Wright. M.P., |to ratepayers to pay a proporI tion their rates in advance and j so help to rrduce the City Council's over- | draft. Cue firm paid in £130 on ■account. ; and others paid sums varying, from £10 jto £180. Other ratepayers are expected ;to follow the example set by those who | appear to appreciate the council's diffi- ! culty. I The Mayor to-day expressed gratification at the result of his appeal. CITY'S FINANCES REVIEWED. FAIRLY STRONG POSITION. [BX TEXKCi&Ai li. —PRESS ASSOCIATION. J WELLINGTON. Thursday At a meeting of the City Council tonight, a statement showing the financial position of the city was presented. The gross overdraft was stated to.be £581,796, while accounts were in credit as a setoff against the overdraft to the extent of £130,185. Other items were :—Credits not set-off £15.288, and advances bv bank on security of debentures £96,265. The public debt of the city was given as £2,455.800, Jess accumulated sulking funds £499,200, the net debt being £1.956,600. The total assets were £4,000,000. It was agreed that the figures disclosed a fairly strong financial position notwithstanding the overdraft.