DOMINION NEWS.

Stratford Evening Post, Volume XXXVII, Issue 91, 17 December 1913, Page 6

DOMINION NEWS.

INTEREST TO MUNICIPALITIES.

[Per Press Association.] Wellington, December 17

An important test case affecting some of the municipalities in New Zealand- is occupying the attention of the Chief Justice (Sir Robert Stout; to-dav. The action is a special case v % . taken under an originating summons with a view to obtaining: an opinion upon certain questions of law touching the scope of legislation passed in 1912 in increasing the rate of interest on loans granted to the local bodies. Plaintiff is the Whangarei Borough Council and defendants the State Guaranteed Advances Board. In February, 1911, the plaintiff corporation applied for a loan of £19,200, and on loth February the Board provisionally approved of the loan on terms requiring it to have a currency of 06) years and the rate of interest to be 3) per cent. The Council duly levied the rate on Ist June, 1911, formally applied for the grant of loan, and asked that it be paid in five instalments instead of in a lump sum as originally proposed. The first and second instalments were paid, and on applying for the • third instalment, on 27th February, 1913, the Council was informed that in accordance with the amendment to the Act, it would be necessary to charge a higher rate, amonntirig to 4J per cent.

FINED FOR BOOKMAKINC. Wellington, December 17. In the Magistrate’s Court to-day, Samuel Isaacs was fined £2O on a 'charge of betting on and £2O for publishing a betting card.