BLUFF HARBOUR BOARD.
ENVIABLE FINANCIAL POSITION. INVERCARGILL, January 14. It is probable that no other public body of any size in the dominion is in such an •nviable tinancial position as Bluff Harbour Board. The year closed with the second larges), income on record, the ordinary income •mounting tc approximately £5327. The board’s loan of £27,000 became duo on December 31 Debentures amounting to £9300
in the old loan were exchanged for those in a new loan of £35,000, and £3400 of the latter debentures were sold for cash. The board has also £12,000 on deposit at call, and a considerable balance to credit at the bank. The old loan was paid off, and the result is that, against the new total indebtedness on loan of £12,700, the board utill has £2OOO on deposit, £B9OO worth of securities, a credit balance at the bank of I £7474, and an investment of £SOOO in the war loan. The total of £19,374 is sufficient : to pay off the whole indebtedness and then leave a credit balance of well over £6OOO.
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Bibliographic details
Otago Witness, Issue 3488, 18 January 1921, Page 44
Word Count
178BLUFF HARBOUR BOARD. Otago Witness, Issue 3488, 18 January 1921, Page 44
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