BRITISH CONTRACT

Hokitika Guardian, 27 September 1933, Page 6

BRITISH CONTRACT

RAILWAY IN POLAND LONDON, September 10. An agreement has been signed recently by the Polish Under-Secretary for State, Mr A. Koc, and representatives of the English Electric Company and Metropolitan-Viekors. This agreement covers a contract for the British companies to electrify the Central Junction station at Warsaw and the three lines proceeding from it in the direction of Berlin, Danzig, and Moscow to the extent of 50 kilometres in each direction.

The electrification scheme is in part .complementary to the construction of a tunnel under the Vistula which, without electrification, was found to be of small utility. Through trains from Berlin to Moscow will not bo able, it is reckoned, to save an hour’s time by use of the tunnel, avoiding skirting round the town.

The British electrification contract is estimated to be worth £2,000,000, and the work will last three or four years at least. A large number of electric locomotives will be included in the order. After long discussion of the financial terms, payment , (in 'paper pounds sterling has been, fixed upon. This, in the ease of a payment which will in part he deferred several years, entails a considerable - risk for both parties, as at the present moment future exchange rates between London and Warsaw are undetermined. At the conclusion of the World Conference. Poland was accented as a member of the gold bloc, which has decided upon a common currency pro-1 gramme and is now regarded as a “gold I country.” • '‘ ■ I