CONVERSION COMPLETED
GISBORNE BOROUGH LOANS TOTAL OP £385,000 The conversion of Gisborne Borough Council loans to lower rates of interest, as’provided in legislation enacted a few years ago, was completed this weeks by the delivery of £220,000 worth of bonds by the town clerk, Mr W. M. Jenkins, in Wellington. • . .t i Mr Jenkins retui’ned yesterday after taking with him .bonds to: tho total, value of the figure mentioned,;By this means the. Borough Council saved £llO in insurance, which would have been necessary otherwise. The signing of the bottds was completed, except for the town clerk’s signature, which was appended in Wellington, and until this was done the bonds were valueless. The loans involved in the conversion scheme adopted by the Borough Council total £385.1750, a 'fairly large percentage of which is held locally, while bonds are also held in many parts of the.:Dominion.
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Bibliographic details
Poverty Bay Herald, Volume LXII, Issue 18817, 21 September 1935, Page 4
Word Count
144CONVERSION COMPLETED Poverty Bay Herald, Volume LXII, Issue 18817, 21 September 1935, Page 4
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