MANAWATU RAILWAY.
By Telegraph—Press Association. Wellington, last night. The directors of the Manawatu Railway Company lately submitted to the Government an offer to sell the assets of the Company for a sum equal to the Company’s paid-up capital, viz., £170,000, with compound interest at 0 per cent, from the time of payment 'of calls, subject to the allowance of all dividends paid, and compound interest thereon, the Government to assume the responsibility for the Company’s debenture debt, £680,000, and all other liabilities.
The Premier replied that the offer could not be accepted, as the purchase" money would come to considerably more than if tho line was purchased under the original agreement. Six per cent, interest during the full time ho also considered too high. The Government were prepared to con sider further proposals for the acquisition of tho line and land on better terms,
SIR JOHN STAVES DEAD, By Telegraph—Press Association—Copyright . _ London, April 3. Obituary : Sir John Stayner, the eminent musician, aged 61,
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Gisborne Times, Volume V, Issue 75, 3 April 1901, Page 2
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163MANAWATU RAILWAY. Gisborne Times, Volume V, Issue 75, 3 April 1901, Page 2
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