LOAN MONEY DEARER.
POWER BOARD'S DIFFICULTY. BANK OVERDRAFT AUTHORISED. [BY TELEGRATH. —OWN CORRESPONDENT.] HAMILTON, "Wednesday. Difficulty has been experienced by the Central Electric-Power Board in obtaining loan moneys under 5J per cent, interest. The board requirps £15,000 to meet commitments in connection with its extensions, but four firms of brokers and a lending institution have "replied to the board's representations stating either that the business could riot be entertained, or that it could not be undertaken unless 5J per cent, interest was offered. One firm stated that tire reason for the hardening of the money market was the action of the Government taking all money available at 51, per cent. The treasurer, Mr. H. J. Becchc, said that some of the board's £IOO debentures to the value of £4OOO had been advertised for sale at per cent., but no replies had been received. Mr. Beeche stated ho was at present working on fixed deposits and asked the board to authorise the raising of money'by way of overdraft. . This tho board decided to grant.
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Bibliographic details
New Zealand Herald, Volume LXVII, Issue 20642, 14 August 1930, Page 12
Word Count
173LOAN MONEY DEARER. New Zealand Herald, Volume LXVII, Issue 20642, 14 August 1930, Page 12
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