MONEY FOR BRIDGE
G% MAY HAVE TO BF, PAID According to correspondence before the Cook County Council today, that body may have to pay 6 jkt cent, lor a loan of £I4OO for Spence ami .Mossman's bridge. Tim Local Government Loans Board provided notice of sanction of the loan. The district engineer, Mr. <). C. Thornton, advised that it would be necessary for the council to pay its quota of £1350 for Silence and Mossman’s bridge at Ruaiiakn. Jhe work bad been commenced, but unless the council’s contribution mine to hand within a few weeks work would have to lie stopped. The Bank of New Zealand wrote: “My head office is not prepared to lake up the above loan, stating that at the present- time, the council will, in. all probability, have some difficulty in raising this small amount at a lesser rate than 6 per cent.” “Foil will find it extremely difficult, we think, to get the sum you require at 5.1 per cent,,” wrote a Napier financial firm.
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17236, 16 April 1930, Page 17
Word Count
169MONEY FOR BRIDGE Poverty Bay Herald, Volume LV, Issue 17236, 16 April 1930, Page 17
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