LOANS BOARD BLAMED
DELAY IN SANCTIONING MONEYS POSITION “RIDICULOUS” From Our Own Correspondent HAMILTON, Today. Strong criticism of tlie Loans Board for demanding detailed information before sanctioning a small loan, was expressed at a meeting of the Central Power Board today, when lengthy correspondence was read between the boards regarding the special supplementary loan of £1,200 the Power Board desires to raise for the Pukemiro area. Mr. H. J. Beeche, secretary, said the Loans Board appeared to be on a fishing expedition. Mr. W. Lee Martin, M.P., said the Loans Board was going well beyond the functions for which it had been established. Road works were being delayed all over the country through unnecessary investigations into small amounts. Last year a thv rl of the applications before the hoard was for less than £2,000. One application for £4OO for a road had been before tlie board since September 16, and was not yet granted. The position was ridiculous. He added that no action had been taken.
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Bibliographic details
Sun (Auckland), Volume III, Issue 843, 11 December 1929, Page 11
Word Count
166LOANS BOARD BLAMED Sun (Auckland), Volume III, Issue 843, 11 December 1929, Page 11
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