HARBOR FINANCE
OPUNAKE’S GRAVE POSITION
(Per Press Association — Copyright.)
NEW PLYMOUTH, Nov. 21. Tlie Opunake Harbour Board was unable to pay the interest instalment due in. October last on its loan of about £50,000. The Board has appealed to the bondholders to allow the payment to stand over until May next, when the Board expects, simultaneously with thp. raising of a redemption loan of £49,000, to be able to pay the interest in full. The difficulty has chiefly been caused, the Bdard states, by an unexpected reduction of its overdraft limit, and the fact that_ the year’s rates have been struck on perhaps a conservative basis. The Board has received the sanction of the local Government Loans Board to raise a redemption loan of £49,000, at a shade more than per cent .interest. In its letter to the bondholders, the Beard that the lenders are secured by a rate over land that is vailued at £1,189,000, and there is no cause for alarm.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/HOG19321122.2.9
Bibliographic details
Ngā taipitopito pukapuka
Hokitika Guardian, 22 November 1932, Page 2
Word count
Tapeke kupu
163HARBOR FINANCE Hokitika Guardian, 22 November 1932, Page 2
Using this item
Te whakamahi i tēnei tūemi
The Greymouth Evening Star Co Ltd is the copyright owner for the Hokitika Guardian. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Greymouth Evening Star Co Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in