LOCAL DEBENTURES
MONEY OFFERING FREELY Little difficulty is apparently going to be experienced by the One Tree Hill Road Board in placing its debentures for the sum of £24,000 required to finance the concrete paving of portion of the Great South Road. The debentures are being issued at par, the term being 36ft years and the interest 55 per cent. Already several large amounts have been offered, including one of £IO,OOO, but there is a probability that the larger offers will be declined as the board does not want all the money immediately and hopes to accept applications as the work progresses and thus avoid the payment of interest on idle funds.
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Sun (Auckland), Volume 1, Issue 7, 30 March 1927, Page 2
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112LOCAL DEBENTURES Sun (Auckland), Volume 1, Issue 7, 30 March 1927, Page 2
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