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GISBORNE RAILWAY

EARLY COMPLETION FORECAST. OVERSEAS CAPITAL INTERESTED MR. LySNA.R ARRANGES TERMS. government ACCEPTANCE ONLY NECESSARY. (Press Association;. CHRiSTCHURCH, April 23. On his return to New Zealand this morning, Mr. W. D. Lysnar, former M.R. for Gisborne, stated in an interview that lie had made arrangefnents with three leading groups of London financiers for financing the completion of the Napier-G isborno railway. Mr. Lysnar lias hrough the terms with him in writing, and if the Government agrees to them there should be no difficulty in having 1500 to 2009 men working on the completion of the railway very shortly. Mr. Lysnar said there had been a lot of cabling between the Prime Minister and himself over the matter, but he had been unable to finalise terms acceptable to London. .As it was delaying his return to New Zealand, he arranged for the matter to he held over until he arrived and was able to discuss the question with the Government here. If the Government accepted the definite terms from London which he had brought with him in writing, and which lie considered cx.tremely favourable and reasonable, there should be no difficulty in the early completion of the railway. London’s terms wore conditional only upon the market not going too far back before their acceptance. “I might say that for some ti,me past tho London market has been slipping back for such investments as these, and also for local body loans ; consequently it is important for finality to be reached promptly,’ he said.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/GIST19350424.2.28

Bibliographic details

Gisborne Times, Volume LXXXII, Issue 12536, 24 April 1935, Page 5

Word Count
252

GISBORNE RAILWAY Gisborne Times, Volume LXXXII, Issue 12536, 24 April 1935, Page 5

GISBORNE RAILWAY Gisborne Times, Volume LXXXII, Issue 12536, 24 April 1935, Page 5