AUCKLAND TRAMS.
AUCKLAND, March 31. Subject to confirmation by a poll of the ratepayers the City Council has decided as follows in'regard to the I Auckland tramways which are now |owned by a private company:— I 1. The purchase by the corporation 'of the company's business. 2. The price is to be £1,143,750 and the amount of the current year's net profits, and is to be subject to an adjustment between current assets and . liabilities as to June 30 1, 1919. I 3. The whole of the purchase money I is to be paid in municipal debentures as f0110w5;—£393,750 at 5 per cent per annum, 21 years currency; £750,000 and the amount of the current year's net profits and adjustment"'' as previously mentioned, at 5£ per cent, per , annum, 21 years currency. 4. The corporation is to take possession on Juty 1, 1919. / On the Exchange to-day ordinary tram shares sold at from £1 to £1 Is 6d. T .
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Bibliographic details
Ashburton Guardian, Volume XXXIX, Issue 9574, 1 April 1919, Page 2
Word Count
159AUCKLAND TRAMS. Ashburton Guardian, Volume XXXIX, Issue 9574, 1 April 1919, Page 2
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