AUCKLAND TRANSPORT

Evening Post, Volume CX, Issue 45, 21 August 1930, Page 9

AUCKLAND TRANSPORT

TRAMWAY EXTENSION LOAN

(From "The Post's" Representative.) LONDON, 3rd July.

Advertisements are being published by tho Bank of New Zealand giving particulars of a 5J per cent. 1950 loan of the Auckland Transport Board. It is pointed out at the head of [ the advertisement that "the particulars are issued to comply with the regulations of tho Stock Exchange, and are not intended as an invitation to subscribers to the loan, and are published by the Bank of New Zealand from particulars supplied by the Transport Board."

Tho issue consists of £100,000 in bearer debentures of £100 each, with principal and interest payable in London. Redemption is at par in July, 1950, at the Bank of New Zealand, London, where also the interest will bo payable on 15th January and loth July in each year, the first half-year's interest being payable on 15fch January, 1031.

Under authorisation by the Auckland Transport Board, the Bank of N„|.v Zealand is negotiating the sale of tho debentures at tho price of £99 per debenture.

This issue .forms part of an authorised borrowing of £526,600 for the purposes of Port Chevalier, Dominion road, and Remuera, and other tramway extensions, Railway station and Stanley street loops, Onohunga duplication, 25 new trams, 10 new buses, additions to workshop and plant, and for loan expenses.

Tho principal moneys and interest •will be secured by a special rate of 3-16ths of a penny on the whole of the board's district, which includes the City of Auckland and its leading suburbs; tho capital rateable value of such district (in March, 1928) being £65,----108,430.

By special arrangement neuter's world service, In addition to other special nourccs of information, |3 used in the compilation ot the oversea intelligence published in this issue, and all rights therein in Australia and New Zealand are reserved.