LOAN REFUSED
GOVERNMENT LIFE OFFICE HOSPITAL BOARD’S APPLICATION (United Press Association.) Dannevirke, September 9. The Dannevirke Hospital Board, which is contemplating a new building scheme, applied to the Government Life Insurance Office for a loan of £25,000. At a board meeting to-day the General Manager advised that the board was unable to entertain the application. The chairman of the Hospital Board (Mr L. Stein) said that he understood the Government Life Insurance Office had any amount of money available, but it would not lend it at three and a-half per cent. Seeing that other Government institutions were lending at that rate, he considered the Government Life Insurance Office was inconsistent. He suggested that as this was an important matter concerning local bodies the board should forward a protest to the Prime Minister (the Rt. Hon. M. J. Savage) and the Minister of Finance (the Hon. W. Nash). It would seem that the only excuse for the Government Life Insurance Office not granting loans at three and a-half per cent, was that it desired to make as much as it could in bonuses for its poli ./-holders. The board decided to take up the matter with Mr Savage and Mr Nash.
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Bibliographic details
Southland Times, Issue 22991, 10 September 1936, Page 4
Word Count
200LOAN REFUSED Southland Times, Issue 22991, 10 September 1936, Page 4
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