MONEY FROM LONDON.
AUCKLAND POWER BOARD'S LOAN. A SATISFACTORY OFFER. AUCKLAND, last night, i The Auckland Electric Power Board lias accepted an offer of the Bank of New Zealand to raise a sum of £250,000, the second instalment, of an authorised t loan of £650,000, in London. Interest, j will be at. 5 per cent, and the price of i the issue will be £97. The date of maturity and ail other I details of the loan will be the same as I for the first issue—twenty years. Expenses will absorb 4 per cent, cost of the loan, tile interest to the Board working out. at about £5 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 consent to the loan by the Minister of Finance.
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Bibliographic details
Poverty Bay Herald, Volume LII, Issue 17078, 6 July 1926, Page 9
Word Count
146MONEY FROM LONDON. Poverty Bay Herald, Volume LII, Issue 17078, 6 July 1926, Page 9
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