BRITISH HOUSING CORPORATION.
In The Spectator of June 18th when commenting upon the undertaking known as the British Housing Corporation and the excellent work on which it was engaged, I also referred to the borrowing powers of the Corporation stating that the brochure on the subject did not indicate the extent to which assets could be mortgaged in priority to the loan stock. It has, however, now been pointed out to me that on p. 9 of the brochure it is made clear that the total amount of fixed and other charges including the loan stock on all the assets of the Corporation shall never exceed 85 per cent. of the valuation of such assets. The point I raised certainly appears to be met by this statement, and it should have been referred to in the note on the subject.
I am glad to have had my attention drawn to the matter.
A. H. D.
* * * *
Previous page