THE CITY LOAN
SECRET NEGOTIATIONS PEOCEEDING,
There hnns brief mention at last night's meeting of the City Council conceniijig the negotiations in reference to the flotation in London of the City Loan of £750,000.
The Mayor explained that an important cablegram had been received from the London brokers. He had. called an urgent meeting of the Finance Committee, and a. reply to tho cable had been forwarded that day. 'file committee had decided that no statement should be made in the • meantime. Certainly it would be inadvisable to make any public statement as the negotiations were of a delicate natura and nothing should be clone which would interfere with them in any way.- A reply from London was expected within tlie next day or bo. When it was received he would call a special meeting of both the Finance Committee and the City Council, and the final decision would rest entirely with the council. Instructions had been issued to tho effect that the flotation shall not be proceeded with until definite orders came from the council.
Councillor Forsyth suggested that He was entitled to know the contents of the cablegram. "I have as much rigjit as any other councillor to know what is going on," he said.
The Mayor was not inclined to en^ lighten councillors. '
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Bibliographic details
Evening Post, Volume CII, Issue 139, 9 December 1921, Page 11
Word Count
216THE CITY LOAN Evening Post, Volume CII, Issue 139, 9 December 1921, Page 11
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