THE NEW LOAN.

Wairarapa Daily Times, Volume 2, Issue 232, 7 August 1879, Page 2

THE NEW LOAN.

(Frcrn tho N. Z, Times), The following is the schedule to the New Zealand Loan Act, 1879, which was read a third timo last night on the motion of Sir George Grey For carrying on the Public Works and. Immigration, authorised by any Act of the General Assembly now in force, or that hereafter may be in force, and for . defraying the costs, charges, and expenses of raising the Loan authorised by this Act £3,490,000 Eor purchase of nativo lands 250,000 For Lyttelton Harbor Works (in lieu of amount authorized to be raised under the Lyttelt Harbor Works Loan Act 1872, as amended by the Financial Arrangements Act, 1878.) 100,000 For defraying such costs, charges, and expenses, (Including liabilities) for Colonial Defence, as shall be authorized by the General Issembly for the year ending re 30th day of June, 1880. 180,000 k ; defraying such costs, charges, and expenses, (including liabilities) for Colonial Defence as shall be authorised by the General ■ Assembly for the year ending the 30th day of June, 1881, 180,000 For redeeming Guaranteed Debentures 800,000 £5,000,000 The Act provides that tho annual charge shall not exceed G per cent, for interest and sinking fund: but, pmding the raising of the loan, power is given to the agents to be appointed to issue shortdated debentures, provided that the principal moneys shall not be made payable at a later period than seven years after the date of issue. Power is given, howevor, for the re-issue of short-dated debentures if necessary.