BANK OVERDRAFT RATES
' MOVE FOR REDUCTION. S>ESIRE OF LOCAL BODEES. The Eltham Borough Council on Friday supported a proposal from the Whakatan© Borough Council urging that the Government include iu the National Expenditure Adjustment Bill a provision for a compulsory reduction in th© bank overdraft rale for local bodies.
The mayor, Mr. I. J. Bridger, eaid this seemed a reasonable request. Local body loans were always regarded as gilt-edged, and a, reduction in this manner would be in keeping with the general cut in interest, rates. Such reduction would be passed on to the ratepayers. Cr. Peebles in supporting the suggestion considered the reduction should also •pply to all commercial concerns. At a later stage on Cr. Peebles’ motion it was decided “That this council congratulates Mr. C. A. Wilkinson, MJ?., on his fight" on behalf of ratepayers in general for a. compulsory reduction in the interest rates charged by banks.’’
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Bibliographic details
Taranaki Daily News, 26 April 1932, Page 7
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151BANK OVERDRAFT RATES Taranaki Daily News, 26 April 1932, Page 7
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