POWER BOARD'S LOAN
QUESTION OF INTEREST RATE SUM SECURED IN CHRISTCHURCH [by telegraph —OWN correspondent] TE AROIIA, Tuesday Tlio action of the manager. Mr. R. Sprague, in securing a loan of .£30,000 at 3 V per cent from tho Municipal Electricity Department of tho Christchurch City Council was formally approved at to-day's mboting of the Thames Valley Power Board. This loan is in lion of that previously discussed between the board and the Auckland Savings Bank, over which considerable controversy aroso following tho bank's withdrawal of its offer on the grounds of altered circumstances due to the effect on interest rates of the Labour Government's legislation. The loan is for the reticulation of n°\v areas and is distinct from tho recent London conversion loan.
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New Zealand Herald, Volume LXXIII, Issue 22543, 7 October 1936, Page 14
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124POWER BOARD'S LOAN New Zealand Herald, Volume LXXIII, Issue 22543, 7 October 1936, Page 14
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