ON SOUND BASIS
WANGANUI CITY’S FINANCE. ‘ NET PUBLIC DEBT REDUCED. (Per Press Association — Copyright.) WANGANUI, October 25. During the past few years the net public debt of Wanganui city has been steadily reduced, acocrding to a statement mad© by .the mayor, Mr N. G. Armstrong, at a special meeting of the Wanganui City Council held last night to strike the rate. Mr Armstrong said that the finances of the city had been placed on as sound a basis as it was possible to put them, and he was confident that when the economic situation improved Wanganui would he as favourably situated as any other part of the Dominion. He pointed out that the city’s indebtedness had been reduced in the past two years by nearly, one hundred thousand pounds. If the city refrained from borrowing, allowing its sinking funds to operate fully, and kept within the bounds of strict economy, public debt should be down to £600,000 by 1940, a figure which lie considered very reasonable.
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Hokitika Guardian, 27 October 1932, Page 5
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166ON SOUND BASIS Hokitika Guardian, 27 October 1932, Page 5
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