BOROUGH LOANS.
DIFFICULTY OF FLOTATION. HIGHER INTEREST REQUIRED. t In the course of his monthly report to the New Plymouth Borough Council, the general manager (Mr. F. T. Bellringer) refers to the request recently made to the Prime Minister for permission to increase the rate of interest upon the £72,000 and £60,000, hydroelectric loans, and the £22,500 tramway loan, from 5A to 6 per cent. The report stated: The Prime Minister granted permission to increase the rate of interest upon the first two loans to 5J per cent, but declined to permit any increase in regard to tjie tramway loan. The council felt that difficulty would be experienced in raising the loans at 6 per cent and that at 5% per cent the task was hopeless. Under the circumstances, the Prime AliiWster has> been asked to reconsider his decision. A long letter was dispatched to him explaining the circumstances and a reply is expected at an early date.
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Taranaki Daily News, 15 February 1921, Page 4
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158BOROUGH LOANS. Taranaki Daily News, 15 February 1921, Page 4
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