MISCELLANEOUS ITEMS.
AUSTRALIAN ANL N.Z. CABI.E ASSOCIATION. THE FIVE MILLION LOAN. NONE FOR NEW WORKS. WELLINGTON, July 7. There appears to be an impression abroad that the local monetary position may be relieved to some extent) by the Co,000,()()0 loan which the Government Inis recently had floated in London. A statement by Sir Francis Bell, Acting Minister of Finance, should remove that impression. Sir Francis Bell stated that the Government had certain obligations to meet in London, including its interest payments, and this loan money will be used for that purpose. Besides these obligations there will be payments due on railway material and equipment, and also on electric rolling stock, and other equipment for the Otira Tunnel and other hydro-eleetirc undertakings. The payment of this expenditure out of the money made available in London will obviate the necessity of trenching on local supplies required for expenditure within the Dominion.
It is hinted that the Racing Commission has recommended the issue of more tote permits, hut the Government may not (dipt them.
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https://paperspast.natlib.govt.nz/newspapers/HOG19210708.2.22.3
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Hokitika Guardian, 8 July 1921, Page 2
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171MISCELLANEOUS ITEMS. Hokitika Guardian, 8 July 1921, Page 2
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