AUCKLAND POWER BOARD.
AUCKLAND, July 5. The Auckland Power Board has accepted an offer of the Bank of New Zealand to raise the sum of £250,000, the'second instalment of the authorised loan of £650,000 in London. The interest will be at the rate of 5 per cent, and the price of the issue will be £97. The date of maturity and all the other details of the loan will be the same as for the first issue—2o years. The expenses will absorb approximately 4 per cent, of the cost of the loan to the board, working out at about £6 11s 8d per cent. Inquiries in London showed that the offer was a good one, and the board was recommended not to postpone acceptance. The board is now awaiting the consent to the loan of the Minister of Finance.
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https://paperspast.natlib.govt.nz/newspapers/OW19260713.2.32
Bibliographic details
Otago Witness, Issue 3774, 13 July 1926, Page 9
Word Count
139AUCKLAND POWER BOARD. Otago Witness, Issue 3774, 13 July 1926, Page 9
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