THE GAS WORKS.
PROPOSED PURCHASE BY THE CITY. Negotiations for the purchase of tho Wellington Gas Company's business by tho City Corporation nro' still going on. Until a day or two ago the position was that tho Corporation had offered to purchaso at the fate of £20 for shares on'which £10 had been paid £10 for those on which £5 had been paid up. The Corporation, would thus buy'tho shares and tako over all tho liabilities and assets. The Mayor stated that - this would require about £250,000. The Mayor has not yet received a reply to this offer,'but Mr. D. J; Nathan, managing director of tho Company, states that a reply is now beinp drafted by the Company's solicitors. It mil embody n<fresh offer, tho principle of which was settled at a mooting, of the directors which-wiis hold yosterday. It will bo subject to tho consent of tho shareholders.
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Dominion, Volume 1, Issue 210, 29 May 1908, Page 7
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149THE GAS WORKS. Dominion, Volume 1, Issue 210, 29 May 1908, Page 7
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