LOAN FOR TRAMWAY.
£250,000 TO BE RAISED BY DEBENTUBES. By Telegraph.—Press Association, i Christchurch, last night. At a meeting of the Tramway Board to day it was decided to raiso forthwith the sum required, £250,000, by the Bale of debentures of £IOO each, payable in thirty years, bearing 41-per cent, interest, and invite tenders for debentures at par. It was considered better in the Interests of the ratepayers to offer the loan at 4p per cent, locally with a good prospect of sailing at a premium, than risk putting the loan on the London market at a less rate, with the possibility of its floating on unsatisfactory terms.
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Bibliographic details
Gisborne Times, Volume X, Issue 956, 31 July 1903, Page 3
Word Count
108LOAN FOR TRAMWAY. Gisborne Times, Volume X, Issue 956, 31 July 1903, Page 3
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