THE INTEREST BILL
-TRANSPORT BOARD'S CASE
(By Telegraph.—Press Association)
AUCKLAND, This Day. The chairman of the Transport Board, Mr. J. A. C. Allum, said at a board meeting to-day that if the exchange rate was raised to 25 per cent. —but he^ could scarcely believe it possible—tKe board would have to pay £20,000 in exchange on its London interest payments, an increase of £12,000. This would mean that -all the good work that had been done in trying to get the capital charges reduced would be nullified. ,
Mr. H. G. E. Mason, M.P., said he thought the Government should 'be asked to indemnify local bodies against any increased .costs imposed by high exchange.
The board resolved to ask the Prime Minister to take such .action as would avoid placing . additional burdens on local bodies. ■ ■■■ .
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https://paperspast.natlib.govt.nz/newspapers/EP19321122.2.66
Bibliographic details
Evening Post, Volume CXIV, Issue 124, 22 November 1932, Page 8
Word Count
134THE INTEREST BILL Evening Post, Volume CXIV, Issue 124, 22 November 1932, Page 8
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