LOCAL BODY LOAN REFUSED
GOVERNMENT LIFE INSURANCE ATTITUDE APPEAL TO MINISTERS [Per United Press Association.] DANNEVIRKF, September 9.. Tho Dannevirko Hospital Board, contemplating a new building scheme, applied to tho Government Life insurance Office for a loan of £25,000. At a. meeting of tho board' to-day the general manager wrote stating that it was 'not possible to entertain the application. Tho Chairman of the Hospital Board (Mr L. Stein) said he understood tho Government Life-Office had any amount of money available, but would not lend at 3] per cent. Seeing that other Goveniiheut institutions were lending at that rate lie considered that the Government bile Office was inconsistent. He suggested that’ as this was an-important matter concerning local bodies the board should forward a protest to the Prime Minister and the Minister of Finance. It would seem that tho. only excuse for the Government Life Department not granting loans at 34 per cent, was that it desired to make as much as it could in bonuses for its policy holders.
The board decided to take the matter up with the Prime Minister (Mr Savage) and the Minister of Finance (Mr Nash).
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Evening Star, Issue 22440, 10 September 1936, Page 14
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191LOCAL BODY LOAN REFUSED Evening Star, Issue 22440, 10 September 1936, Page 14
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