THE QUEENSLAND MAIL CONTRACT.
(Received 9.53 a.m.)
BRISBANE; this day
The manager for Cobb and Co. states that the Company's overdraft in connection with the carriage of mails reached such a point, that the Queensland National Bank declined to finance any further, unless a guarantee was given not to increase it. Cobb and Co. have asked the Federal Government to give a guarantee or an increased subsidy, but the Government refused.
Probably the Government will call upon the sureties to go on with the contract, ft is unlikely that they will do so.
Arrangements will be made if possible for the National Bank to carry on the work.
The stoppage of the contract has caused consternation throughout Queensland.
Captain Jackson Barry was a passenger by the Ngapuhi from the South this morning-. The veteran pr&ceeds to Rotorua. for the benefit of \nia health.
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Bibliographic details
Auckland Star, Volume XXXIII, Issue 112, 13 May 1902, Page 8
Word Count
143THE QUEENSLAND MAIL CONTRACT. Auckland Star, Volume XXXIII, Issue 112, 13 May 1902, Page 8
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