MORRINSVILLE LOANS.

New Zealand Herald, Volume LXI, Issue 18706, 12 May 1924, Page 12

MORRINSVILLE LOANS.

APPLICATIONS FOR MONEY. UNFAVOURABLE REPLIES. - fßr' / TELEGRAPH. —OWN CORRESPONDENT ] MORRINSVILLE, Saturday. Advice from -three money-lending institutions, ; in reply to applications from the Morrinsville Borough Council, for terms regarding ' the / placing off the loading loan of £21,500 and the swimming bath loan !of £2000, : do not appear to he very encouraging. The A.M.P.. Society stated that all the society's money was at present fully committed for some time to come, and when it was. in a position to resume lending it had ; a long waiting list which had to be ■ dealt with in order of / receipt. The ; agent of /.the Public Trust Office advised that the head office could not entertain the loan. - The Mayor said that /he considered that in spite of these 'replies there should not be any difficulty in. placing the loan. | ;The Borough Council has decided that a general rate of 2Jd in the '..■ £ be struck for the year. The total estimated ex- : penditure • outside ;of loan work, is »roads £1601, and, miscellaneous;; £2064. ; The special rates for v water > and existing loans amount -to 2£d, so that the total rate for the borough amounts to 5d in the £. ; It is hoped to proceed with tne £21,000 / roading ' scheme before the summer commences. /;;"/'.';,.. "