LOAN POLICY
DUNEDIN’S ADVANTAGE The town clerk of Dunedin, Mr. U. A. Lewin, in his review of the city finances, gave prominence to the advantage of the council’s policy in using the local market for its loan requirements.
Dunedin’s position is unique, as in comparison with others of the larger local authorities only a relatively small portion of the loan indebtedness is domiciled iii London. The statutory reduction of up to 20 per cent, in interest rates does not apply to London loans, whereas the rise in the exchange rate greatly increases the cost of London money.
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18056, 5 April 1933, Page 6
Word Count
97LOAN POLICY Poverty Bay Herald, Volume LX, Issue 18056, 5 April 1933, Page 6
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