LAKE COLERIDGE.
INTEREST CHARGES. The matter of the interest charges on the Lake Coleridge undertaking was referred to at the meeting of the City Council last night. A letter was received from the executive of the Canterbury Progress League forwarding copy of report concerning tho interest charges on the Lake Coloridge undertaking, also copy of resolution passed by it as follows: — "That this executive' enters an. emphatic protest against the system of pooling interest charges on the capital coßt of hydro-electrical undertakings, believing this to be unsound as a matter of business principle. Further, the pooling process places an unfair burden on the Lake Coleridge scheme, which was proposed by the people of Canterbury, and largely constructed at a time when money was much cheaper than it is at present." The executive asked- tlie Council to join in the protest with a view to making it as widespread and as effective as possible, Tho Council, on the motion of Cr. A. McKellar, decided to support the protest.
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Press, Volume LX, Issue 18233, 18 November 1924, Page 8
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167LAKE COLERIDGE. Press, Volume LX, Issue 18233, 18 November 1924, Page 8
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