HARBOUR BOARD FINANCE.
SINKING FUNDS,
; Mr. R. Fletcher (chairman, of the Harbour Board) reported to'that body at its meeting yesterday that sinking fund accumulations for- tlte past six montlis totalled .JM9SG Bs. Id. For tho whole year tho total was.i»> ss. 4d. The averago rate of interest obtained was £i 10s. fljd. Tho total amount of sinking funds.accumulated was now ,£116,506 13s. M. Interest was paid up to date, and thero were no arrears. As a whole Proposition of sinking funds was a very-satisfactory one so far as the Harbour Board was concornod. Investments , were in ■ every case secured without delay. - Mr. Wilfofd remarked thai a..note-.-wortliy feature in regard. to the sinking funds of the board wiw that there were never any broken periods during which interest was lost. He thought that, in the last ten years, the board had not lost 30 days' intonest in broken periods between repayments of leans and reinvestments. No local body, in his opinion, could show a belter record. Mr. Danioll joined in congratulating the secretary upon tho manner in which tho board's Unaneial affairs were-managed..
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Dominion, Volume 4, Issue 958, 27 October 1910, Page 4
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182HARBOUR BOARD FINANCE. Dominion, Volume 4, Issue 958, 27 October 1910, Page 4
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