A COSTLY BLUNDER
(Rec. 8.25 p.m.) London, August 25. The Daily Telegraph Financi'al editor, discussing the Southland Electric Power Board's decision,. poAnfs o.ut that the debentures issued her© carry the New Zealand Government's guarantee for principal and interest. The jburnal states: — "Southland's decision is even more glaring than that of the Auckland Tramways Board or the Otago Harbour Board. Persistence therein will be a shortsighted and a costly blunder in view of tha«n.umber of New Zealand local bodies' loans due. for maturity." For tbe sake of New Zealand's credit the hope is expressed that the decision will he reversed after Friday's interview with Mr. Coates.
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Rotorua Morning Post, Volume 3, Issue 620, 26 August 1933, Page 5
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105A COSTLY BLUNDER Rotorua Morning Post, Volume 3, Issue 620, 26 August 1933, Page 5
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