MIDLAND RAILWAY.
TBE RECEIVER’S SALARY,
By Telegraph—Press AesooiatioD. Wellington, last night. When Mr Coates, General Manager of the National Bank, was appointed receiver for the Midland Railway debenture holders, he made an arrangement with the General Manager of the company to assist him in the duties of receiver at a certain salary, one half of which was to be paid in any case, and the other half in the event of a oash settlement being effected with the Crown. It was also agreed that half of the salary unpaid should bear interest. The receiver informed the Chief Justice in Chambers to-day that in his opinion the Government would pay £IIO,OOO to the debenture holders if they would accept that sum in settlement of their claims. He asked His Honor to make an order for payment of salary due, so as to avoid the payment of further interest. His Honor made the order.
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Bibliographic details
Gisborne Times, Volume VII, Issue 436, 7 June 1902, Page 3
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152MIDLAND RAILWAY. Gisborne Times, Volume VII, Issue 436, 7 June 1902, Page 3
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