AUSTRALIAN MAIL SERVICE
TERMS OF THE CONTRACT.
United Press Association —Copyright Received May 26, 4.37 p.m. LONDON, May 26.
It is understood that the following represents the actual present position as regards the mail contract :—lf any two or .more States guarantee the de-benture-holders an annual payment-, lor ten years of £125,000, reprseiiting interest and sinking fund, the contractors will undertake to pay annually to the guaranteeing States £5,000, which will'be in the nature of an insurance premium for the risk undertaken by the contractors; and the will also undertake to give the participating States first call on a considerable amount of refrigerating space on the mail boats for perishable produce.
THE GUARANTEE.
LONDON, May 25.
Mr. Bent informed Mr. Deakiu that A’lctoria was prepared to join in the guarantee of a mail subsidy for ten years on a population basis if the other States would jiarticipate. Mr. Deakiu telegraphed to Sir John 'Forrest, asking if the other States would join, but a reply- was not received. The syndicate offered Mr. Bent certain cargo space if Victoria would guarantee the subsidy.
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Bibliographic details
Gisborne Times, Volume XXV, Issue 2090, 27 May 1907, Page 2
Word Count
181AUSTRALIAN MAIL SERVICE Gisborne Times, Volume XXV, Issue 2090, 27 May 1907, Page 2
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