CITY’S PUBLIC DEBT
Wanganui's public debt was reduced by £42,038 during the year, stated the city treasurer (Mr. Best). Conversion loan debentures due on November 1, 1945, amounting to £24,000, were redeemed out of the Loan Sinking Fund, Mr. Best added. “In addition, £17,739, as instalments of principal, was paid out of revenue. A small inscribed loan of £344, raised many years ago, matured on February 1, 1946. After taking into account the new loans raised (Gas Works, £37,400 and housing, £8,500), and the redemptions in respect of the older loans, the net loan indebtedness at March 31, 1946, had increased by only £3,772 to the present figure of £628,279.”
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Bibliographic details
Wanganui Chronicle, Volume 90, Issue 117, 22 May 1946, Page 7
Word Count
110CITY’S PUBLIC DEBT Wanganui Chronicle, Volume 90, Issue 117, 22 May 1946, Page 7
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