FURTHER £3,000

Wairarapa Times-Age, 17 June 1943, Page 4

FURTHER £3,000

INVESTED IN LIBERTY LOAN POWER BOARD'S DECISION. MEMBER OPPOSES PROPOSAL. (“Times-Age” Special.) The Wairarapa Electric Power Board decided, at its meeting at Carterton today, to subscribe a further £3OOO to the Third Librty Loan, making a total subscription of £5OOO. Mr C. H. Holmes said that if the Government wanted the money urgently ho was in favour of the board voting everything it could. However, that was not the case, and if the board gave a very large sum it would mean working on overdraft.

Mr J. W. Colquhoun said he agreed with Mr Holmes. Mr Pearce moved a motion that a further £3,000 be invested in the loan. Mr Holmes moved an amendment that only a further £lOOO bo invested in the loan. The amendment, which was seconded by Mr G. W. Hart, was lost.

Mr F. C. Daniell said that in a time of national emergency the board was saying the other fellow should subscribe. £5OOO was a reasonable thing.

Mr W. A. Tate said it was the board’s duty to pay all it could into the loan. Mr N. C. C. Shepherd said he was worried about future commitments. “We can’t be paltry,” said Mr Pearce. “If we can't give more than another £lOOO, we should leave it at what we have in.” Mr H. P. Hugo: “Hear, hear.”

Mr Brown said £5OOO could be subscribed without embarrassing the board. The motion that the loan bo increased to £5OOO was carried, Mr Holmes voting against it.