POWER BOARD
PAYMENTS OF INTEREST THBEATS RESENTED. (Per Press Association, Copyright). INVERCARGILL .September 15. The Hon. J. G. Coates lias wired to, the chairman of the Power Board directing it to pay the September interest in sterling. He states it the Board fails to comply, the Government must pay the difference, in view of the State guarantee, and legislation will provide that the amounts so paid shall constitute a debt to the Crown, and be recoverable as snob. In view of the present position, tbe Government cannot possibly agree to extend the Government guarantee to any conversion loan attempted. Mr W. Hiiiehey (chairman) lias replied, ‘‘l consider and am advised, that it is niv duty to carry out the resolution of the Board. Your attempt to dictate, and threats are resented.”
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Hokitika Guardian, 15 September 1933, Page 6
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131POWER BOARD Hokitika Guardian, 15 September 1933, Page 6
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