SOUTHLAND LOAN.
Discussion Over Interest Payments. (Special to the “Star.”) WELLINGTON,, August 28. Members of the Southland Power Board who since Friday have been negotiating with the acting-Prime Minister (Mr Coates) regarding their decision to pay British bondholders’ interest in New Zealand currency, completed their discussion this afternoon. The position appears to be almost one of stalemate as the Government adheres to its attitude that payments should be in sterling. However, as the Southland Board's loan of £750,000 bears interest at 6 per cent the board considers it has a strong moral claim for consideration by its creditors. The Government, while not withdrawing its own attitude, has agreed to make certain representations by cable on behalf of the Southland Power Board, through the High Commissioner’s office.
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Bibliographic details
Star (Christchurch), Volume LXIV, Issue 852, 28 August 1933, Page 7
Word Count
126SOUTHLAND LOAN. Star (Christchurch), Volume LXIV, Issue 852, 28 August 1933, Page 7
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