SINKING FUNDS.
There has been, so far as we are aware, no instance of maladministration of local bodies' sinking funds calling for so sweeping and comprehensive a change as the denial of the right of borrowing bo lies to control the investment of their sinking fund accumulations, says the "Taranaki Herald.'' United action by local bodies may perhaps secure the desired repeal, but the new Act will place so much money at the disposal of the Government automatically, without having to go to the open market,, that Ministers will probably endeavour to retain the provision.
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Wairarapa Age, Volume XXXII, Issue 3125, 27 February 1909, Page 4
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95SINKING FUNDS. Wairarapa Age, Volume XXXII, Issue 3125, 27 February 1909, Page 4
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