DISTRICT LOAN PROPOSALS.

King Country Chronicle, Volume VII, Issue 576, 14 June 1913, Page 5

DISTRICT LOAN PROPOSALS.

APPLICATIONS REFUSED.

In consequence of the stringency of the money market last season a number of loans which were projected in this district for metalling purposes were held up. In view of the improved outlook of late it was considered advisable by the settlers to again forward the applications to the Goverment together with one or two new proposals. Altogether loans to the amount of £15,050 were applied for by the Waitomo County Council, and applications for subsidies were also forwarded. The following reply has now been received by Mr P. Mora, county clerk, from which it will be seen that the amount of money available is strictly limited: — Sir,—l am in receipt of your memo, of the Ist ult. applying for the five under-mentioned loans, viz.—£2 800 to widen and metal, etc.* Pungarehu road; £3500 to metal portions of Kumara and Kiekie roads; £SOOO to metal roads in Kio Kio in special rating district; £2OOO to widen, metal, etc., Pio Pio-Mairoa road; £1750 to metal and culvert Otewa road —£15,050. In reply I have to inform you that I regret that at present the board is not in a position to grant the amounts applied for. Owing to the heavy demands hitherto made by local authorities on the funds of the Department the board is unable at present to grant any loan in excess of £IOOO. —Youra obediently, G. F. C. CAMPBELL.