WELLINGTON Y.M.C.A.
DEBT £SOOO. By Telegraph—Press Association. Wellington, Last Night. Mr. Holmes, local secretary of the Y.M.C.A., to-day, it is stated, said there was still a debt of £SOOO on the building in Willis street, interest on which was £3OO per year. He attributed the indebtedness to the fact that many people who had promised to help the institution financially when the building campaign was inaugurated, fully meant it at the time, but financial stringency caught them and they were unable to do bo. Then for two or three years the gymnasium did not' pay its way, and the profits on the boarding-house had been very small. He hoped to celebrate the tenth anniversary with the £SOOO debt extinguished. They were trying to secure fifty men as sustaining members at five guineas annually each, and had already obtained fourteen.
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https://paperspast.natlib.govt.nz/newspapers/TDN19110802.2.57
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Taranaki Daily News, Volume LIV, Issue 33, 2 August 1911, Page 5
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139WELLINGTON Y.M.C.A. Taranaki Daily News, Volume LIV, Issue 33, 2 August 1911, Page 5
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