PALMERSTON NORTH LOAN

New Zealand Times, Volume XLIX, Issue 11162, 18 March 1922, Page 11

PALMERSTON NORTH LOAN

GASWORKS AND ELECTRIC LIGHT. At the last meeting of the Borough Council the Mayor (Mr J. A. Nash, M.P.) stated that he had made arrangements with the A.M.P. Society for a lopn of £186,000 at 7 per cent., plus 1 per cent, sinking fund, the term being ten years. The loan would bo a reproductive one, and would ba used for the new gasworks and for the electrio light and power plant. The General Manager pf Railways informed the speaker that, now the counoil had obtained the loan money he would come to Palmerkton North as soon as possible and arrange, for sites suitable, in connection with the railway,, for the gasworks and electric power station. The Mayor said he expected that these latter would ba placed on sites where they could obtain sidings direct from the railway into'the works. He also suggested that when the General Manager of Railways cam© to Palmerston North he should ■ he > met by- business people and the question of railway sidings discussed. Members of the council expressed the opinion that the arrangements mad© by the Mayor were very satisfactory.