STATE ADVANCES OFFICE.

Colonist, Volume LVI, Issue 13930, 11 February 1914, Page 5

STATE ADVANCES OFFICE.

A TEST CASE,

[United Pbess Association.]

Wellington, Feb. 10,

The Chief Justice to-day gave reserved judgment in the test case brought by the Whangarei Borough Council against the Superintendent of the.State Guaranteed Advances Department for subsequently raising the rate of interest at which it had originally intimated it could advance the council a loan of £19,200. The Judge held that the council was without legal redress against the Department, but could claim for redress to the Legislature, which had altered the agreements made between the corporation and the Advances Office.