INTEREST PAYMENTS

Southland Times, Issue 22107, 30 August 1933, Page 8

INTEREST PAYMENTS

AUCKLAND TRANSPORT BOARD. CHAIRMAN TO VISIT LONDON. (Per United Press Association.) Auckland, August 29. Within two or three weeks the chairman of the Auckland Transport Board, Mr J. A. C. Allum, will leave for London to discuss with the board’s bondholders in London the question of the payment of interest in sterling or in New Zealand currency. After a special meeting to-day, Mr Allum said that many messages had passed between the Rt. Hon. J. G. Coates, the London financiers, and the board, and the result was the board had agreed to pay the July instalment of interest in sterling without prejudice and without recourse, and with the understanding that representatives of the bondholders would meet the board’s chairman as soon as he reached London. Mr Allum said the board was now considering proposals for submission by him to the English bondholders. THAMES VALLEY BOARD REQUEST FOR ASSISTANCE. (Per United Press Association.) Te Aroha, August 29. The chairman of the Thames Valley Electric Power Board has telegraphed the acting-Prime Minister (the Rt. Hon. J. G. Coates) with reference to the Press report that Mr Coates is making representations through the High Commissioner on behalf of the Southland Power Board, in reference to their interest charges on their £750,000 loan, pointing out that the Thames Valley Board is in a similar position in regard to interest due on September 1, on £350,000 at six per cent., and asking Mr Coates to negotiate also on the Thames Valley Board’s behalf for assistance.