UNREASONABLE INCREASE
MT. ALBERT OVERDRAFT RATE Intimation from the Bank of New Zealand of the increase of the interest rate to 7 per cent, on the borough’s overdraft was not accepted kindly by the Mount Albert Borough Council last evening. The Mayor. Mr. L. E. Rhodes, described the action as very regrettable and attributed the advance in rate to the Government’s action. After other councillors had expressed the opinion the increase was unreasonable, the council decided to apply to the bank to reconsider its decision. Sixteen permits for the erection of buildings valued at £3.428 were issued by the building inspector for the three weeks ended February 13.
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Bibliographic details
Sun (Auckland), Volume III, Issue 901, 19 February 1930, Page 7
Word Count
108UNREASONABLE INCREASE Sun (Auckland), Volume III, Issue 901, 19 February 1930, Page 7
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