WELLINGTON LOAN
LOW RATE OF INTEREST. SUM QUICKLY APPLIED FOR. [ Per Pres? Association, j WELLINGTON. June 26. A loan of £24.000 for which authority was obtained by a special order, has been raised on the iocal market by the Wellington City Council at the lowrate of 3| per cent., with per cent, sinking fund. The rate is that fixed by the Government for local body loans in the main centres, and is believed by the city' treasurer to be the lowest rate of interest offered by the Council. Loans were raised at 4 per cent, many years ago. but since then the ruling rates have been considerably higher. Notwithstanding the low rate, the whole amount was quickly applied for, one offer being to take up the loan in one parcel and the others were adequate to account for the full £24,000. The money is to buy' property, etc., for street widening and improvement work in several places.
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Bibliographic details
Wanganui Chronicle, Volume 77, Issue 150, 27 June 1934, Page 8
Word Count
157WELLINGTON LOAN Wanganui Chronicle, Volume 77, Issue 150, 27 June 1934, Page 8
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