HALF-MILLION HARBOUR LOAN.

Dominion, Volume 4, Issue 958, 27 October 1910, Page 4

HALF-MILLION HARBOUR LOAN.

QUESTION BY MB, HARKNESS,

At the meeting of the Harbour Board yesterday the following question, was standing in the name of Mt. J. G. Harlp

"Was the resolution passed by ttw board in committee on July 6, 1909, on tho proposal to raise a loan of jeSOO.GOO in London conveyed to the. National Bank of New Zealand, Wellington, in the exact terms agreed upon ••■ and has the board been advised that the bank, as agents for. tho Welling-; ton Harbour Board, transmitted tho above resolution to the London branch without modification ?" Tho question figured on the order papqr as a motion, but the chairman (Mr. R, Fletcher) ruled that' it■' was a question merely, and stated, that he was prepared ". to answer it. When the resolution re* ferred to .was passed.'i by the board ou July 0, 1909, tho National Bank of: No* Zealand was communicated with and requested to cable its London office' to tho effect that the' Hon. T. K.. Macdonald was in no way authorised to represent the Wellington Harbour Boatd financially, the board did not require the inoMy, and would not accept tho loan. Intima.Hon was received from the bank that the" cable had been dispatched as requested by the board. Later, to satisfy membeta, and himself, the speaker mudo it' Ilia businossto interview Mr. Coatcs,. general .■ manager of the National Bank. By the latter he was shown the bank's cabl* book, with a copy of the cable in question in .cypher and also an interpretation, The cablo agreed,exactly with th* message detailed in the board's letter conveying its request to the bank.: /This was a reply to the question put by Mr. Harkness.. ; .;. v .. ,\- : , •. ~ Mr. Harkness: I can only say, from a public: standpoint, that I am not pre-, pared 'to accept the "■ letter '; from: tie : bank- 1 — .' "■ .';.', . Mr. Fletcher: Yon must not discuss the ouestioni Jfr. Harkness. ,If you wish to - do that, you must; give notice of motion: in the: .usual- way. ' '.■■■■■:-, The board thereupon proceeded to t&» next,business. ... .