EARTHQUAKE LOAN
Action Deferred by Havelock Town Board REDUCTION IN INTEREST A decision to defer consideration of the Government 's letter in regard to a reduction in interest from 4 per ce'nt. to 3^ per cent. on earthquake loans was made last evening by the Havelock North Town Board. The board, which carries £950 in the loan, discussed the matter briefly. "The Government is not doing too bad, said Mr E. C- Stratton. "They ctre getting money from ihe "Reserve Bank at 1J per cent. and charge us 3§ per cent." The chairman, Mr H. R. ven Dadelsten: "The local bodies will be having a conference on the matter." Mr Stfatton: "What happens if we ignore it and don't pay." The chairman: "They would relieve us of all' our responsibilities. From the way the Government is spending money on other things, then as far as the earthquake losses in Hawke's Bay are concerned, it woald not be difficult to wipe it off." lt ' was decided to defer the matter to see what move would be made by other local bodies. '
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Bibliographic details
Hawke's Bay Herald-Tribune, Volume 81, Issue 43, 13 November 1937, Page 6
Word Count
180EARTHQUAKE LOAN Hawke's Bay Herald-Tribune, Volume 81, Issue 43, 13 November 1937, Page 6
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