Untitled

Dominion, Volume 7, Issue 1981, 11 February 1914, Page 5

- The correspondence'which lias been ; proceeding: between the Nelson Harbour • Board ana the Railway Department regarding the proposed acquisition by the former of the wharves has now reached a definite position.' The purchase prico lias been fixed at £101,000, and the Department intimated in a. letter considered atthe monthly meeting of the board, that if the board decided upon - the purchase, th'o money would have to be paid in the usual. way, that is to say, the purchase money, or any considerable portion of it, would not bo allowed to stand as a loan._ The option of purchase could not rem.iin open indefinitely, but if' the boar(l took steps to 6ecure the wharves, tho ! option would be extended to OctoW 31 next. The purchase of the" wharves wjll necessitate the raising of a loan, which it is understood (says the Nelson 'Colonist") the Government will guarantee, and as the chairman of the board remarked, the money should bo raised for 4£ por cent., which; with a 1} per cent, sinking fund, would make G per cent.