RAISINS LOCAL LOANS.
A NEK' SYSTEM AT AUCKLAND. (By Telccraph.-Special Correspondent.)
Auckland, November 9. The neu- system inaugurated by tho Auckland City Council of selling .£IOO 1 per cent, debentures over the counter is proving popular. When asked yesterday what success had met the innovation, the Mayor (Mr. C. J. Parr) stated that since the council had offered to issue its smaller loans, aggregating ,£'50,000. under the system a fortnight ago, fully half tho loans had been taken un. Besides inquiries for larger sums, applications have also been made by people to take up .£3OO and £400 of the loans. The Mayor said that the trustees of small estates evidently realised that such debentures were a safe form of investment. Tho risks attaching to mortgages did not exist in the case of. city bonds which had their security over the assets and revenues of the city.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/DOM19111110.2.83
Bibliographic details
Ngā taipitopito pukapuka
Dominion, Volume 5, Issue 1282, 10 November 1911, Page 8
Word count
Tapeke kupu
146RAISINS LOCAL LOANS. Dominion, Volume 5, Issue 1282, 10 November 1911, Page 8
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in