OVERSEAS TRADE
SETTLEMENT DISPUTE- IN VIEW
SOUTHLAND POWER BOARD PLAN
WELLINGTON, December 12,
There appears to he now a definite prospect of an amicable settlement of .the dispute between the Government and the Southland Electric Power .Board over the basis of overseas interest payments. In a telegram sent yesterday to the Minister for Finance (the-Rt. Hon. J. G. Coates), the chairman of the board, Mr W. Hincliey, made a suggestion that the extra amount required as a result of the raising of the exchange for the payment of interest in sterling should be financed by a temporary loan, to be merged with the principal loan on its maituii’ity and conversion. It is understood that the local Government- Loans Board, at a meeting to-day, approved the general terms of Mi- Hincliey’s telegram as a basis of negotiation. Mr Hincliey and the board’s secretary, Mr C. Campbell, will, it is believed, leave Invercargill for Wellington to-morrow 1 , land will on their arrival discuss details of the proposal with the Loans Board. A settlement of the difference is generally- anticipated.
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Hokitika Guardian, 14 December 1933, Page 6
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177OVERSEAS TRADE Hokitika Guardian, 14 December 1933, Page 6
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