PROGRESS OF GISBORNE DISTRICT.
(Per United Press Association.)
GISBORNE, March 21. The progress of this district is being shown iii ;i pleasing manner by the improved finances of the local governing bodies. The Horough Council has cleared off the overdraft, and on general account boasls of n surplus. The Cook County Council, for tho first time in its history, oa.li make a. similar boast. At last meeting there was au overdrawn account to the extent of about £6000. Now there is a credit cf about £300. The Harbour Board has on general account a credit of £6600, and tho rapid increase in valuation now gives almost the legal limit of revenue which can be raised in tile way of rates to pay Ihe interest on the £200,000 loan with the 1 per cent, sinking fund. The innual interest to be provided on (his loan totals £12,000.
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Bibliographic details
Otago Daily Times, Issue 13858, 22 March 1907, Page 3
Word Count
146PROGRESS OF GISBORNE DISTRICT. Otago Daily Times, Issue 13858, 22 March 1907, Page 3
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