GOVERNMENT LOANS

Hokitika Guardian, 15 August 1932, Page 6

GOVERNMENT LOANS

REVIEWING OF PAST OPERATION^

COMMENT BY MR FORBES; s ; f - :. * V

WELLINGTON, Augut 13i

In. a review to-day of the operations, of the. Local Government Loans Board since it . commenced to function in April, .1927, Mr-Forbes showed that applications had been made for 1 loans totalling £22,115,295. Of these £13,190029 was sanctioned in new loans and £6,148,603 in renewals, £3,053,382 being deblined or referred back.

Loans- sanctioned werel927-28, £3,212,185; 1928-29, £3,866,550; 192930, £3,563,842; j 1930-31, £965,875 ; 1931-32, £781,195: . . Renewals :i 1.927-28, £1,048,796; 192829, .£809,221; 31, £828,901; 1931-32, £2,483,810. Commenting on the substantial reduction, in. the -amount of new loans sanctioned, 'Mr Forbes' said that the figuies for last year would'have shown a greater, reduction but for the Hawke’s Bay having been granted for the reconstruction of local body services in , theaffected area. ' . - , 1 At yesterday’s meeting of the’ Boa# twenty-six applications for loans totalling £219,008 were dealt with. Loans amounting to £182,810 were sanction# including £128,510 renewals, ;and£54,000., new . loan,s. The balance (£36,198) ;of. the amount submitted to the meeting was either declined or- re-, ferried back to,the local authoritie' s ,for Htrther consideration. -P3 i 3'£