NEW ZEALAND'S DREADNOUGHT.

Auckland Star, Volume XLI, Issue 67, 19 March 1910, Page 5

NEW ZEALAND'S DREADNOUGHT.

TO COST £1,800,000.

BUILT IN TWO YEARS. STATEMENT BY THE PKSMXB3 (By Telegraph.—Press Association.) WELLINGTON, Friday. According to a statement made by the Prime Minister to-day, the FairQeld Company, London and Clyde, were the | lowest tenderers, and have secured the| contract for building the New Zealand j battleship cruiser. The contract price is £852,990. This includes Yarrow boilers, but the Admiralty requests that the sul> | stitution of Babcoek boilers, at a cost! of £21,000 additional, be left to its own' discretion, and this has been authorised.! The contract time is 24 months. In addition to the Tamounts mentioned, there is a further sum of £22,000 for certain auxiliary machinery that the Admiralty lias provided for, so that the total amount of the tender, with Yar-1 row boilers, is £874,990, and if Babcock boilers arc finally required by the, Admiralty an additional £21,000 will be i required. The tenders are for the hull and ma- j chinery. The requisite guns have to be provided by one of the large gun manufacturing firms, and tenders for guns are to be separate. In reply to an inquiry from Sir Joseph Ward, the High Commissioner has advised that, including the hull, machinery, guns and ammunition for 12 months, the total cost of the ship -will not exceed £1,800,000. "From our point of view," stated the Prime Minister to-day, "the arrangement made is exceedingly satisfactory, as it is £200,000 under the esti- : mated cost, and that for which the; authority of Parliament was given last session." The Government obtained authority to raise a loan of up to two millions, at a rate of interest not exceeding 31 per cent. It is not to be treated as part of the permanent public debt, and provision was made for paying it off within 18 years. For that purpose a sinking fund of 4 per cent was provided for. In his Budget statement, Sir Joseph Ward said that the proposals involved a total yearly expenditure of £230,000, made up thus: Dreadnought (interest and sinking fund for each of 18 years) £150,000; contribution to Admiralty to cover difference between Imperial and local rates of pay, etc» £100,000; total, £250,000. Deducting the £ 100,000 now being paid by New Zealand as a naval contribution, the net result would be a yearly increase oi £ 150,000 on the amount at present paid.

MANNING THE CRUISER.

NEW ZEALAND TO SUPPLY MEN LONDON, March 18. Speaking in the House of Commons today, Mr. McKenna (First Lord of the Admiralty) said that New Zealand's cruiser would be an essential part of the Aiotherland's navy, manned by the Motherland, except as far as New Zealand was able to supply men. "Australians will man the Australian ship," he added, '"but we arc supplying ■ those Australia is unable to furnish," but their pay will come from Australia,"