LOANS FOR N.Z. RAILWAYS
COMMENTS BY LONDON PAPER
London, August 31. The “Financial News,” discussing in a leading- article New Zealand’s railway policy arising out of the criticisms in New Zealand regarding the South Island Main Trunk line, points out that the British investor will presumably be asked to lend the money.
“If he forms the impression that the loans are to be employed on works that will long remain unproductive and constitute a drain on the general revenue, then the rate of interest will inevitably harden,” says the “News.” “These considerations suggest, in the present state of railway finance of New Zealand and elsewhere, that caution should be exercised where it is a case of embarking on heavy capital commitments.”
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https://paperspast.natlib.govt.nz/newspapers/MH19290903.2.10
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Manawatu Herald, Volume L, Issue 3992, 3 September 1929, Page 2
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121LOANS FOR N.Z. RAILWAYS Manawatu Herald, Volume L, Issue 3992, 3 September 1929, Page 2
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