MONEY FOR INVESTMENT.
FREELY OFFERING FOR PUBLIC DEBENTURES.
CHRISTCHURCH, August 3. Despite the fairly general belief that there is a shortage of money at present the City Council has received three separate offers to take the whole of the debentures that will be required to be issued in connection with the loan of £25.000, which it is proposed to raise for the relief of unemployment. Referring- to the matter to-day the Mayor (the Rev. J. K. Archer) said it seemed that there was any amount of money about, but there was a lack of confidence on the part of investors as regards private investments. In . iditicn. to tho three offers which had been received regarding the unemployment loan there was also a great demand for the debentures at 51 per cent interest, which were being issued in connection with ilia waterworks and the electricity loans, ibis morning he had signed 500 debentures of £lOO each, a total of £50,000.
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Bibliographic details
Otago Witness, Issue 3830, 9 August 1927, Page 7
Word Count
159MONEY FOR INVESTMENT. Otago Witness, Issue 3830, 9 August 1927, Page 7
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