BOROUGH FINANCES.
LOAN MONEY UNAVAILABLE. POSITION UNSATISFACTORY. “GO SLOW” POLICY" URGED. Owing to the position of the money market, the Pukekohe Borough Council has been unable to obtain the loan of £84,000 sanctioned by the ratepayers some time ago for various important works in the borougn. At the meeting of the Council on Wednesday night, the Mayor (Mr. C. K. Lawrie) reported that a deputation from the Council waited on the Prime Minister, Rt. Hon. W. F. Massey, when he was in Pukekohe to see if there was any chance of obtaining money from any of the Government departments. Mr. Massey requested them to put the application in writing and this was done. They applied for £SOOO, and Mr. Massey replied stating that arrangements bad been made for the application to go before the Investment Board of the New Zealand Insurance Department. So far the latter had not replied. He urged upon the Council the advisability of adopting . a “go slow” policy until such time as loan money came forward. There was no reasonable prospect during the next few months, but he had hopes that the position would be improved afterwards.
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Bibliographic details
Franklin Times, Volume 9, Issue 609, 18 February 1921, Page 5
Word Count
191BOROUGH FINANCES. Franklin Times, Volume 9, Issue 609, 18 February 1921, Page 5
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