GENERAL COMMENT
(Press Assn.
I LEGAL POSITION BEING EXPLAINED IN LONDON MUCH DISAPPROVAL
, — By Telegraph — Copyright").
Wellington, Monday. Representative bankers in Wellington express themselves as strongly of opinion that the payment of debenture interest in New Zealand currency is a grave mistake, likely to lead to irreparable damage to New Zealand . credft on the London market, saying that the lo'ans were taken up on the understanding that they w'ould be dealt with on a sterling basis. This may be the legal position but it is not honouf able and is not good policy. The mayor, Mr. A. Hislop, stated io-day that the Wellington City Couni cil had arranged for the renewal of existing loans and also for the payment of interest in London in British /jurrency.
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 574, 4 July 1933, Page 5
Word Count
126GENERAL COMMENT Rotorua Morning Post, Volume 2, Issue 574, 4 July 1933, Page 5
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