BIG INTERNAL LOAN
PROPOSED BY WELLINGTON CITY COUNCIL. NO CHANCE SEEN IN LONDON. (By Telegraph—Press Association.) WELLINGTON. This Day. A decision to apply to the Local Government Loans Board for permission to raise £1.069.300 in New Zealand to meet renewals of certain loans falling due this year was reached by the Wellington City Council yesterday. The mayor, Mr Hislop, said that it was necessary to raise the money internally because there was no chance of getting it on the London market, where all available moneys were going to essential wartime purposes. The amount required included provision for exchange. There was the water supply loan of £5,619,000 less sinking fund, making a net £537,600; electric power construction and tramway improvement loan, £519,000 (net £480,000); and the street renewal loan of £47,000.
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https://paperspast.natlib.govt.nz/newspapers/WAITA19400409.2.23
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Wairarapa Times-Age, 9 April 1940, Page 4
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130BIG INTERNAL LOAN Wairarapa Times-Age, 9 April 1940, Page 4
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