WELLINGTON CITY SINKING FUND COMMISSIONERS.
Sir,—The information has been published that the Commissioners had agreed to purchase .£15,009 worth of debentures from the Gisborno Borough Council, with a currency of 30 years, at 5 per ccnt. Now, sir, if this is correct, I maintain that the Commissioners havo not made tho best deal possible in the interests of the citizens, particularly when there is n stringency and tightness in the money market. The money could have been let out readily, in .£soo■ lots locally at B per cent., and tho city would have benefited by tho. transaction foil tho lines I suggest) to a further amount of .£SOOO, which is certainly worthy of serious consideration. I do hope, sir, that tho report alluded to, is incorrect, and that our Commissioners will realise that tho funds vested in them shall bo made to yield tho best possible rates of interest. Trusting that the fullest publicity will be given to all transactions of this important trust. —I am, etc., A. It. HORNBLOW.
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https://paperspast.natlib.govt.nz/newspapers/DOM19130522.2.65.3
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Dominion, Volume 6, Issue 1756, 22 May 1913, Page 6
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170WELLINGTON CITY SINKING FUND COMMISSIONERS. Dominion, Volume 6, Issue 1756, 22 May 1913, Page 6
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