A GENEROUS OFFER
A.M.P. SOCIETY AND POWER BOARD. (Per United Press Association.) Wanganui, June 14. Conceding the full 20 per cent, reduction in interest now operative in New Zealand, the A.M.P. Society has offered the Wanganui-Rangitikei Electric Power Board an opportunity to transfer three loans to the Dominion, thereby making a considerable saving to the board. Under the existing contracts, the board is committed to pay £560,055 on three loans domiciled in Sydney, but the new arrangement will provide for the repayment of the amount to £491,634. The result will be an aggregate saving to the board of £67,005. The offer was made in view of the fact that the board accepted the verdict of the High Court of Australia in connection with a recent test case. The board carried a resolution expressing appreciation of the society’s generous offer.
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Southland Times, Issue 22350, 15 June 1934, Page 7
Word Count
139A GENEROUS OFFER Southland Times, Issue 22350, 15 June 1934, Page 7
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