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LOAN OVER-SUBSCRIBED WELLINGTON CITY INVESTMENT LARGE SUM AT 3 7-8 PER CENT (By Telegraph.—Press Association) WELLINGTON, Thursday An amount sought In New Zealand for the purpose of renewing Wellington City Corporation loans, totalling £1,124,900 maturing in London on December 1 next has been over-subscribed by £62,000 at the rate of interest of approximately 3 7-8 per cent. This announcement was made by the Mayor, Mr T. C. A. Hislop, at a meeting of the Wellington City Council. Mr Hislop added that the result was more than satisfactory. The whole amount had been raised at approximately 3 7-8 per cent, and he very much doubted whether any other local authority in New Zealand would have been able to raise moneys like that at anything lower than 4 per cent.
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Waikato Times, Volume 127, Issue 21192, 15 August 1940, Page 6
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130LOW INTEREST Waikato Times, Volume 127, Issue 21192, 15 August 1940, Page 6
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