LOCAL BODY LOANS.
NO MORE STATE GUARANTEES. APPLICATIONS EXCEED LIMIT. By Telegraph Prew Association. Wellington, Night. Sir Francis Bell (Acting Finance Min* ister) was interviewed by a Times re»porter regarding the alleged embargo upon putting State guaranteed local body loans on the London market. “The Government,’’ said the Minister, “is not preventing local bodies from going upon the London market for loans, but we cannot give any further State guarantees. Where, however, any promise has been made of any State guarantee antecedent to the present position arising, the State guarantee will 'be given, /but it cannot be given in respect to any future loans. The State guarantee is limited to a very small amount each year, and though that limit has been extended the applications are far in excess of the extended limit.”
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Taranaki Daily News, 20 July 1921, Page 4
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133LOCAL BODY LOANS. Taranaki Daily News, 20 July 1921, Page 4
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