LARGER LOANS NEEDED
DUE TO HIGH COSTS DEBENTURES PROPOSED (By Telegraph.—Press Association) TIMARU, Tuesday At to-day’s meeting of the South Canterbury Hospital Board the •secretary, Mr H. G. Naylor, reported that, owing to increased costs, resulting from recent industrial legislation and to a revision of portions of their plans due to departmental requirements, the loan sanction of £65,000 for the new hospital buildings would have to be increased to £82,400. In a comprehensive report Mr Naylor referred ito the difficulty the board had already experienced in obtaining loan money at 3£ per cent, for long terms, and suggested the issuing of debentures in groups of one-year terms up to ten years, in order to raise the total sum required. The chairman said the subject of the secretary’s report was of such importance that members should have time to consider it, and decision was deferred for a month.
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Waikato Times, Volume 122, Issue 20425, 16 February 1938, Page 8
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147LARGER LOANS NEEDED Waikato Times, Volume 122, Issue 20425, 16 February 1938, Page 8
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