WELLINGTON MUNICIPAL FINANCES.
WELLINGTON, April 17. At the final meeting of the City Council to-night the Mayor reviewed the financial position. This showed a credit balance, after providing for all expenditure, of £1637, which was very satisfactory in view of the fact that at the beginning of the year a debit balance of about £2OOO had been anticipated. “ At the beginning of the year,” said the Mayor, “ I did not see that it was necessary to increase the revenue by means of added rates, as then the state of trade in tht city did not in my judgment warrant such a course. For much the same reason I could not regard it as a proper time to launch out on any undertaking involving the raising of loans. Indeed, considering that more than one-third of the rates at present go In the payment of interest charged on loans, I am of opinion that the city will be wise to go slow and steady in regard to borrowing for some time yet.”
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Otago Witness, Issue 3084, 23 April 1913, Page 31
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170WELLINGTON MUNICIPAL FINANCES. Otago Witness, Issue 3084, 23 April 1913, Page 31
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