THAMES FINANCES
£317,000 IN DEBT NGATEA, To-day. According to Mr. S. Ensor, a member of the Thames Borough Council and a candidate for the office of Mayor, the indebtedness of the Borough of Thames had increased from £14,000 in 1916 to £317,000 at present. In 19?4 the public debt of the borough was £93,800; in 1925 it had reached £177,000, and by 1928 it exceeded a quarter of a million without the £66,000 for the disastrous harbour scheme. Owing to the rates, property in Thames was not an asset but a liability, as anyone would find if they tried to* raise money on it. In 1928 the rates struck amounted to £19,082, of which £14.150, or more than sufficient to pay off the whole of the borough’s debt of 1920, was collected. This year £2l 579 was levied and only £15,696 was collected. though £14,000 was required to pay interest and other charges.
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Bibliographic details
Sun (Auckland), Volume III, Issue 648, 27 April 1929, Page 8
Word Count
153THAMES FINANCES Sun (Auckland), Volume III, Issue 648, 27 April 1929, Page 8
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