A TIP FOR LOCAL BODIES.
Some little time back, the A.M.P. Soeiety offered to lend the city of Napier certain •sums which the ratepayers had authorised the Council to borrow for drainage and other works, including sewerage and a water supply for Napier South, but the Government would not permit; the Council to pay the rate of interest asked — 5X per cent., including sinking fund. Sir Joseph Ward was recently interviewed by Mr J. Vigour Brown, M.P., who desired to know if there was any possibility of the Government permitting the Council to borrow the cash at the terms offered by the A.M.P. Society. Sir Joseph replied that there was absolutely no chance ; the Government had made up their mind not to agree to any public body borrowing money at more than 5 per cent. He would advise the Council to apply to the Public, Trustee for the loan of the required cash. Mr Brown has since had telegraphic and written applications made to the Public Trustee by the Town Clerk, and he thinks there is a reasonably good chance of raising the loan in the way suggested.
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https://paperspast.natlib.govt.nz/newspapers/MH19160506.2.22
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Manawatu Herald, Volume XXXVIII, Issue 1547, 6 May 1916, Page 4
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188A TIP FOR LOCAL BODIES. Manawatu Herald, Volume XXXVIII, Issue 1547, 6 May 1916, Page 4
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