A BANKRUPT BOROUGH.
CABLES.
BAILIFFS TAKE POSSESSION FOR THE GOVERNMENT. (Per Press Association.—L'opyriyht.) Sydney, June 30. Bailiffs are in possession of the borough of Penrith at the instance of the Government for liabilities amounting to £13,000, but there is a prospect of the matter being satisfactorily arranged. The liabilities of the borough of Penrith are secured by three sets of debentures, the Government holding one set for a loan of £13,000 at 5 per cent. Owing to the high rate of interest and other causes the borough authorities were unable to pay the debts, and the Government issued an execution for the amount owing to it.
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Bibliographic details
Hastings Standard, Issue 361, 1 July 1897, Page 3
Word Count
106A BANKRUPT BOROUGH. Hastings Standard, Issue 361, 1 July 1897, Page 3
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