QUESTION OF INTEREST.
HARBOR BOARD DEBENTURES. HIGHER RATE REQUIRED. The subject of interest 011 local body debentures was briefly considered by the Auckland Harbor Board at its last meeting. Communications received recently from the manager of the Bank of New Zealand and the chairman of the. Stock Exchange stated that owing to the rate of interest, namely, .",1 per cent., bei,i« insufficient, they had no sales of the board's debentures in connection with its £1,000,000 loan to report, nor had they any in prospect. Reporting on the matter, the board in committee recommended that a letter lie sent to the Prime Minister point in"' out that _ iinlos the rate of interest were sufficiently increased to create a sale of the board's debentures, it would lie necessary for it to cease its operations in regard to wharf accommodation. •It was also recommended (.hat the Prime Minister be informed (hat at present there were three IIi.OOO-ton steameis at anchor awaiting wharf accommodation, which was illustrai'vc of the congestion that had prevailed for the last six months. The recommendations were adopted.
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Taranaki Daily News, 16 November 1920, Page 8
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178QUESTION OF INTEREST. Taranaki Daily News, 16 November 1920, Page 8
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