THE BOROUGH LOAN.
At last night's meeting of the Borough Council it was resolved on the motion of Cr Wkst, seconded by Cr Larcomb — That the Mayor be requested to interview the manager of the Union Rank of Australia with a view to place the i? 50,000 Loan on the London market." It is almost a pity that the Loan was not placed on the London market at the outset. Of course, the offer made by Sir Julius Vogiil appeared of so satisfactory a character, but all who were desirous of seeing the Loan floated, were sanguine as to the congratulatory results which they were assured would soon he realized. How the undesirable consummation that has now been attained was ultimately brought about, need not be referred to, as with that and 'other concomitant features the public are now conversant. The harm is done, and those whose action materially contributed to the disastrous result may well feel proud of their handiwork. It is sincerely to be hoped that the Union Bank will succeed m floating the Loan on the London market within a reasonable period, and so tend to relieve to some extent the depresssion which now is so palpably apparent m every direction.
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Bibliographic details
Manawatu Standard, Volume X, Issue 1451, 10 September 1885, Page 2
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204THE BOROUGH LOAN. Manawatu Standard, Volume X, Issue 1451, 10 September 1885, Page 2
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