WAIHI BOROUGH
EXTENSION OF OVERDRAFT [BY TELEGRAPH —OWN .CORRESPONDENT] WAIHI, Friday When the half-yearly statement of accounts was presented at a meeting of the Waihi Borough Council, showing an overdraft at September 3 of £1479, the Mayor, Mr. W. M. Wallnutt, pointed out that there was nothing to worry about, as a considerable amount of gold duty and goldfields revenue and general rat«s was yet to como to hand. Mr. Wallnutt added that at any rate an overdraft of reasonable dimensions was merely a fluctuating quantity of little value in indicating the true financial position, and this had been shown to ho the case in many instances in tlie past. The Mayor's views were supported by Mr. J. J. Callaghan, and the statement was adopted. The council decided to apply for an overdraft of £2OOO.
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New Zealand Herald, Volume LXXV, Issue 23175, 22 October 1938, Page 15
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135WAIHI BOROUGH New Zealand Herald, Volume LXXV, Issue 23175, 22 October 1938, Page 15
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