DEBENTURE INTEREST
PAYMENT TO LONDON HOLDERS A LEAD FOR AUCKLAND (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, August 3. (Received August 3, at S pan.) The Daily Telegraph, in welcoming the Otago Harbour Board’s decision, says: “This has naturally aroused hope in the city that Auckland will revert to its practice of paying interest on the tramway loan in sterling and make adjustments for the July payments. Whatever may be the legality of the contention that the tramway loan remained an internal issue, despite the sales in London, there is a strong moral obligation to continue payments in sterling, as Mr Forbes recently admitted.” The Financial News says Otago quotations were reinstated on the Stock Exchange official list, and the Auckland Harbour Board and Dunedin City issues on assurances being given that payments would be made in full.
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Otago Daily Times, Issue 22023, 4 August 1933, Page 9
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138DEBENTURE INTEREST Otago Daily Times, Issue 22023, 4 August 1933, Page 9
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