A TEN MILLION LOAN.

Taranaki Daily News, Volume LV, Issue 210, 24 January 1913, Page 5

A TEN MILLION LOAN.

HANDSOME OFFER TO SYDNEY. By Cable—Press Association—Copyright. Sydney. January 23. Financiers have olfered the New South Males (loveinnicnt a guarantee for the underwriting of a tIIU.uOO.OOO loan for the construction of a bridge across the harbor anil railway connections, conditionally on receiving the contract rights and a percentage con-ideration for supervision. Ft is unlikely tile offer will he accepted.

Oil January 17 the Sydney Sun published the following: A remarkable offer from an English contracting (inn has been lying on the table of the Minister for Works (Mr. Arthur Griffith I for some month- past, and though the merits of the proposition may be open to discussion, the nature of it is such as to occasion surprise that no announcement lias been made concerning it. The firm in question, Griffith and Co., Ltd., through its Australian representative. upon learning of the difficulties of the Government in respect to the construction of the Sydney subway and the various suburban and'country lines at present projected, submitted a concrete proposal covering all the requirements in regard to these works, viz., to find the Government the whole of the money needed for the construction of these lines, to place at the disposal of the Government an expert stafT of engineers, to commence the work immediately upon authorisation, and to guarantee to have it all completed by five years. The interest on.the loan would be at the u-nal rate that would be payable if it was otherwise Mil.-rrib.-d. aiid the ontivct for construction "n an on'inarv percentage basis.