The Four M ; Uion Loan Bill has passed its second reading. It provides for tlie appointment of two or more agents to raise a loan not exceeding four millions. The annual charge to be imposed on the consolidated fund for interest, and sinking fund (if any) is not to exceed 6 per cent. Pending the raising of the loan short dated debentures may be issued. No debentures are to be sold at a price which will yield to the purchaser a higher rate of interest than 6 per cent. No schedule is attached to the bill specifying how the loan is to be applied.
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Bibliographic details
Evening Post, Volume XV, Issue 286, 6 December 1877, Page 2
Word Count
104Untitled Evening Post, Volume XV, Issue 286, 6 December 1877, Page 2
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