RAILWAY CONTROL
N.S.W. INNOVATION
(Australian Press Association)
SYDNEY, Feb. 9
Hon Mr Stevens, the New South Wales State Treasurer, foreshadows j\s being near a new basis of railway control by which the State Railways will be able to raise their own loams and issue their own securities. Mr Stevens said that Canada’s favourable position on the loan market is due to that Dominion’s railway being on a business footing, independent of the Treasury. In the course of his reply to a country deputation, who were asking for railway electrification and for othei developments of the train services, the cost of which would be between 2f> and 35 millions storing, Hon Mr Stevens (Minister of Railways) said that the stringency of the money market precluded any hope of these things being done at present. Unless they adopted the Canadian system, he said, it would he impossible to obtain finance to meet tfie railway needs.
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Hokitika Guardian, 10 February 1930, Page 3
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153RAILWAY CONTROL Hokitika Guardian, 10 February 1930, Page 3
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