INTEREST DEFAULT
ALBERTA GOVERNMENT ACTION RULED ILLEGAL CALGARY, Feb. 13 The Supreme Court of Alberta to-day quashed ithe Aberhart Social Credit Government's Interest Reduction Act, under which the province refused to pay more ijhan half the interest on outstanding bonds. The Court ruled that interest reduction is the sole authority of the Dominion.
The action was brought by the Independent o;rder of Foresters, which holds 300,000 dollars' worth of provincial debentures.
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Bibliographic details
New Zealand Herald, Volume LXXVI, Issue 23272, 15 February 1939, Page 14
Word Count
71INTEREST DEFAULT New Zealand Herald, Volume LXXVI, Issue 23272, 15 February 1939, Page 14
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