THE MONEY QUESTION.

Otaki Mail, 27 March 1922, Page 4

THE MONEY QUESTION.

(FINANCING THE HYDRO-ELECTRIC SCHEME. 1} HATE TO EE STRUCK AS SECURITY The Horowhenua Hydro-Electric , Power Board commenced practical operations on Tuesday in deciding to , strike a rate oi one-tenth ol a penny in the £ on .the capital value 01 the _ district. The decision was arrived at ; at'ter a statement had been made by the ciiairmau (Mr Monk) that a com- . tnittee consisting oi Mr Seil'ert. tlie t. secretary (Mr Goldsmith) and himt self had approached the Bank of - New Zealand with the object oi scj curing an advance. 'The ‘bank had i expressed itself as willing to do so, ■- hut had required from the Board security in the shape oi revenue or exp pected revenue. 5 A COMBINED LOAN. In legard to the greater question oi j raising tlie huge sum necessary lor the reticulation, a communication was I received from the Manawatu-Oroua ' Electric Power Board inviting representation from the Horowhenua Board t at a conference to he held in Palmers- ( ton North next Monday lor the pur* | pose of arranging' a deputation to j_ the Prime Minister and Minister oi 0 Public Works with a request tiiat t Government backing be afforded a coufbined loan proposal for several power boards. The Rangitikei and j Dannevlrke boards had also, ii was _ stated, been invited to send represen--1 tatives. It was decided that the chairman and Messrs. Seifen and Goldsmith attend the conference. FUTURE MEETINGS. 1; was decided that the Board meet * at Levin at 0 o’clock in the morning v with the exception of next month, 1 when to avoid clashing with the r Easter holidays, the meeting will be 1 held on Tuesday', April 25.