THE GISBORNE HARBOR BOARD.
[Bx Telkgeaph.j [FROM OUR COKRESPOKDENT.I WELLINGTON, July 21. The Select Committee appointed by the Council to enquire into the management of affairs of the G-isborne Harbor Board found that the provisions of the Act of 1884 have not been contravened, but with regard to the investment of the sinking fund, which is in the hands of Commissioners appointed by the Board itself without any specific legal authority, it appears that the Board remains still responsible for the safety of moneys, and the attention of the Controller-General should be drawn to this point. Without taking exception to any of the investments that have already has been made, the Committee recommends that in future the Sinking Funds be invested in debentures of New Zealand or other colonies. They do not feel jpatifled in reporting on the other evidence ■which incidentally came before them, leading to the conclusion that the financial position of the Board requires serious consideration.
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Bibliographic details
Press, Volume XLV, Issue 7125, 23 July 1888, Page 6
Word Count
159
THE GISBORNE HARBOR BOARD.
Press, Volume XLV, Issue 7125, 23 July 1888, Page 6
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