BOROUGH LOAN.
10 THE EDITOE. Sir, — There has been so much mystery about the raising of the loan, that I think the time has come that some of *it should be cleared. Will the Mayor give information on the following points: — What was the date of the telegram sent by Mr Govett (for I presume there was a telegram) informing the Council that he could only raise £2400, and what steps were then taken by the Council? As far as the public know there was nothing done till late in June. I hear that the Colonial Bank experienced no difficulty whatever in raising the loan at 6 per cent., nor did any business man ever think there would be., Why, then, did not the Borough try to raise the loan themselves at 6 per cent ? Surely there was plenty of time 1 Was any attempt made to get the .old debenture holders to substitute new debentures at 6 per cent, for those they held ? If report states truly, one large debenture holder was quite willing to do so. — I am, &c, Ratepayer.
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Bibliographic details
Taranaki Herald, Volume XXXIX, Issue 8832, 16 July 1890, Page 2
Word Count
182BOROUGH LOAN. Taranaki Herald, Volume XXXIX, Issue 8832, 16 July 1890, Page 2
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