LONDON MONEY MARKET

Taranaki Daily News, Volume LII, Issue 4, 29 January 1909, Page 2

LONDON MONEY MARKET

WELLINGTON JIAHUOR BOARDS ACTION. By Telegraph.—Press Association. Wellington, Lust .Night. The Wellington Harbor Board, under fegislation passed session, is empowered to borrow C1.0(10,000 in a single loan or a series of loans. It does not, however, propose to go on the London market for any money for some time, probably not this year. The (chairman of the \Hoard (Mr. T. Mi Wilford), referring to this matter at to-day's meeting of the Board, said it was well known that it was almost impossible at the present time to get /money on good terms on the London market. lie was authorised by the Board's banker (the National Bank) to .state that in their opinion the time was not opportune for this purpose. The Auckland Harbor Board proposed going on the London market for .0250,000. whilst the Auckland Borough Council Timaru, Duucdin, and Napier local authorities also proposed raiding loans lie believed that the Hoard was able ti pay its liabilities this year without tin necessity of a loan. If towards the eni of the year the Board found there won good opportunities for floating a loan the matter could be reeonsM r-d. Members of the Board - : urred ii the course suggested by th.- il, urman.