TO REPAY CITY LOANS.
DRAW TO MEET DEBENTURES
Aocording to tho terms under which tlio debentures for the £100,000 city improvements loan wero raised in 1879 by tho Wellington City Corporation, a quarter of that sum haß to do repaid to dobenture-holders thia month, and his Worship the Mayor (Mr. J. r. Luke) has arranged a drawing by ballot, to decide whioh debenture numbors shall bo repaid at this juncture. This drawing "will tako place in tho Mayor s room at 3 p.m. to-morrow. Other repayments of» £25,000 oaoh aro to bo made in September of tho years 1919 and 1924. , The debentures Issued against this loan bear interest at tho Tafe of 6 per cent. —tho highest rate of interest paid for loans by tlio city, and equalled by, only one other loan—-tho Wainui waterworks loan, of £130,000, of 1886. a gilt-edged 6 per cont. security, de-benture-holders will (unless other circumstances weigh) desiro to hear tho number of their certificates called tomorrow afternoon. Tho lucky ones will bo thoso left in until tho loan' matures, on September 1, 1929. The Bum of £700 per annum has been Bet aßide to meet the' loan. On March 31 last this fund stood at £78,576 Is. 7d.
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Dominion, Volume 6, Issue 1862, 23 September 1913, Page 6
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205TO REPAY CITY LOANS. Dominion, Volume 6, Issue 1862, 23 September 1913, Page 6
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