"RAISING THE WIND."
NOVEL MUNICIPAL PEOPOSAL. (Br Telegraph.—Frcsi Association.) j Gisborne, June 10. A novel method of raising the wind was brought forward by the Mayor (Mr. J. li. Kirk) at to-night's meeting of the Borough Council. The Mhpme, briefly., was that the ratepayers should be invited to deposit their savings with tho council, as with a- bank, tho council paying 4 per cent, interest at call. Ho pointed out that depositors could only obtain 31 per cent, from the Post Office. The council was paying 51- per cent, interest on overdraft, and if "they could raise a thousand or two in small sums they would be able to save 15 Per cent, interest. Powers to do as he had suggested wero conferred upon municipalities by the Municipal Corporations Act. On Mr. ICirk's motion the matter was referred to the Finance Committee, with power to inquire into tho legal aspect of tho proposal.
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Dominion, Volume 6, Issue 1773, 11 June 1913, Page 7
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153"RAISING THE WIND." Dominion, Volume 6, Issue 1773, 11 June 1913, Page 7
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