There is much talk in city circles (says the " European Mail" of May 2) about the circular which arrived by yesterday's mail from New Zealand from the chairman of the New Plymouth Harbour Board, notifying that "the board will probably be unable to provide sufficient funds to meet the coupons of its bonds due in London on May 1." The wonder is why this news wa3 not wired, seeing that it was doubtful whether the circular ■would reach here by the date on which the money was due. It appears that the holders of coupons yesterday had to be content with 10s lOd in the pound, and the question is •Jiow whether the investors who have put their money into this Harbour Board will be content with 4 per cent instead of 6 per cent in the future. This partial repudiatiou of a colonial loan, together with the letter which Appears in 1' The Times "of this'morning on colonial indebtedness, is likely to create a very uneasy feeling amongst those investors who are not well acquainted with [the wealth and resources of our great Antipodean colonies.
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Ashburton Guardian, Ashburton Guardian, Volume VII, Issue 2448, 23 June 1890
Ashburton Guardian Ashburton Guardian, Volume VII, Issue 2448, 23 June 1890
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