The reluctance of the investing public to take up the City Council 5J per cent debentures at par is likely to cause very serious embarrassment shortly in the matter of carrying out various authorised works, says a Press Association telegram from Dunedin. The value of unsold debentures is .£129,430. It was pointed nut nt lasr- night's meeting of the City Council that unless the position was faced there would probably come down a report that tho number of men .employed should be reduced. Tho council was already lip to tho hilt in the matter of expenditure, and must call a, halt. At tiho rate things were going the ratepayers would have to facc something liko a sixty per cent, increase in rates next year.
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Dominion, Volume 14, Issue 56, 30 November 1920, Page 6
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124Untitled Dominion, Volume 14, Issue 56, 30 November 1920, Page 6
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