TIMARU HARBOR.
LOCALEY-RAISED LOAN. [PRESS ASSOCIATION TELEGRAM] TIMARU, July 25. The Harbor Board have to renew or pay off £IOO,OOO loan (London) of 1883, and are arranging to raise it locally at 5 per cent, for 16 years without expense. They would have had to pay 5 per cent, in London and about £SOOO for raising. About half is already hooked without advertising. The Board have undertaken t.> extend tlie eastern rubble mole by 500 ft. by day labor, and to-day appointed Mr. M. F. Slowey, contractor, as foreman at £8 a week, plus 28 per cent, cf any saving effected on the engineer’s estimate. The chairman hold that tin’s arrangement combines what is best in. day labor and contract systems. Two members objected, one because it was forming a new precedent. Tho chairman admitted this, but said tho precedent was a very good one. Tne port earnings for the first six months totalled £I3OO over the same period for .last year, and a record for any one half-year.
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Bibliographic details
Gisborne Times, Volume XXXVI, Issue 3994, 26 July 1913, Page 2
Word Count
169TIMARU HARBOR. Gisborne Times, Volume XXXVI, Issue 3994, 26 July 1913, Page 2
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