BANK RATE OF INTEREST
The following is the oommaaloatlon received by tha Waimate County Ootraeti from the local manager of the Unloa Baas-, on the sa^jeofc of interest upon J overdraft referred to m the sftlole oil " County matters," which appears en tha fourth page of this Issue :— . , To the Chairman Waitnste County Council. Sir. — In answer to the Committee* application of 28 h Deo, last, with regard to the rate of interest chargeable on m overdraft to the extent of £5000 (five thousand pounds), I have now to advise you that I am willing to allow tbs Waimate Oonnty Council an overdraft to the extent of £5000 (five thousand' pounds), at 7 per centum per annum, on the Oooooil undertaking to levy a rat* sufficient to extinguish the debt within a year from date. And I will agree to advance the same amouut for 3 (three) ' consecutive years from date at the same ■, rate of Interest (7 per cent) and on the same terms,-- 1 am, Sir, yours faithfully, r e ~ James S. D'Emdik, , Manager. ■"•
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Ashburton Guardian, Volume VII, Issue 1742, 17 January 1888, Page 2
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176BANK RATE OF INTEREST Ashburton Guardian, Volume VII, Issue 1742, 17 January 1888, Page 2
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