NO LOAN MONEY
LOCAL BODIES’ TROUBLES HIGHER INTEREST RATE SOUGHT (By Telegraph.—Press Association) AUCKLAND, Monday That the prospect of 3£ per cent interest was unattractive to investors and many public bodies would soon be in a precarious position owing to inablity to raise loan money unless the Government made the money available or gave permission for a higher rate of interest to be offered were contentions advanced at a meeting of the Auckland Transport Board after the secretary, Mr C. R. Gribble, had presented a report on the financial position. The report stated that the board had raised only £B7OO from debentures and was still short of £^251,71~8 in an expenditure of £260,418. Mr Gribble said the board had an annual revenue of over £6,000.000.
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https://paperspast.natlib.govt.nz/newspapers/WT19390228.2.122
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Waikato Times, Volume 124, Issue 20742, 28 February 1939, Page 12
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125NO LOAN MONEY Waikato Times, Volume 124, Issue 20742, 28 February 1939, Page 12
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