COBB’S COACHES.
THE BANK PUTS ON THE SCREW.
By Telegraph—Press Association—Copyright
Brisbane, May 13. Cobb's manager states that the company’s overdraft in connection with the carriage of mails has reached such a point that the Queensland National Bank has declined to finance them any longer unless a guarantee is given not to increase itfurther.
Cobb auked the Federal Government to give a guarantee or inereaso the subsidy, but the latter refused.
The probability is that the Government will call upon the sureties to go on with the contract, bus it is unlikely they will do so. Failing that, arrangements will bo made, if possible, for tho National Bank to carry on the work. The stoppage has caused consternation throughout Queensland.
Melbourne, May 18. In tho Senate Mr Drake stated that he had called upon the sureties of the Queensland mail contract to carry out their obligations. If this is not done they are now arranging to carry on at the risk of the sureties.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GIST19020514.2.33
Bibliographic details
Gisborne Times, Volume VII, Issue 415, 14 May 1902, Page 2
Word Count
164COBB’S COACHES. Gisborne Times, Volume VII, Issue 415, 14 May 1902, Page 2
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in