LOAN FOR POWER BOARD
£150,000 FROM AUSTRALIA The Auckland Electric-power Board has completed arrangements tor a loan in Australia of £150,000, being the balance of the loan of £650,000 for reticulation extension. The chairman of the board, Mr. W. J. Holdsworth, reported at a meeting held yesterday that inquiries had been made in London and in Aus-
tralia, and the Australian offer, which was the more favourable, had been accepted. The term of the loan was for 21 years at 5 per cent. The price would be 94 net in Auckland, bringing the interest up to 5J per cent. The best London offer was at £5 12s 6d per cent. “These terms are as good as we are able to get at present," said Mr. Holdsworth. “Some Australian States are raising millions, and are not geting any better terms than we are.” Other members of the board remarked that the terms of the loan were very satisfactory.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19270517.2.81
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Sun (Auckland), Volume 1, Issue 46, 17 May 1927, Page 8
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157LOAN FOR POWER BOARD Sun (Auckland), Volume 1, Issue 46, 17 May 1927, Page 8
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