THE LOAN BILL.

Gisborne Times, Volume XXV, Issue 2142, 26 July 1907, Page 3

THE LOAN BILL.

RAILWAY CONSTRUCTION VOTE

DECREASED

INCREASE OF ROLLING STOCK

(Special toTi tries.)

WKLLINCTOX, last night

| Tho Loan Bill, which was introducI ed to-day, provides for tho raising of | a million pounds as foreshadowed in I tho Budget. Tho maximum interest Ito he paid is 4} per cont. The scheI dale of works to which the money is to he applied apportions £375,000 to railway construction or £75,000 less I than last* year, when ,€'150,000 ans allocated to the same purpose. There is an increase of £125,000 as eomuared with last year for additional rolling stock for open lines, and such other works and purpoises in connection therewith as may he authorised, the amount proposed to he allocated being £200,000. For roads, tracks and bridges tho amount specified is £350,000 ns against £400,000 last year for similar purposes. On the goldfields tho amount is £25,000, and the remaining £50,000 is allocated in respect, of t'olopliono extension. The amounts for the two last-named objects are the same as specified in last year’s Loan Bill.