WORK FOR THE WORKLESS.

Hawke's Bay Tribune, Volume XII, Issue 243, 27 September 1922, Page 2

WORK FOR THE WORKLESS.

WELLINGTON’S £12,000 LOAN. Wellington, Sept. 26. 4 ready response is being made to tho invitation issued by the City Conned last 'V«*ek for the purchase of dehenturee of a loan of £12.000 for the relief of unemployed in the city. Up till noon to-day a total of £6OOO had been either patif up o»* promised to the city treasury, the largest parcel of debenture taken up being one fm £2OOO, purchased by a local arm. Thu balance has been largely promised in the city, but several country firms anc individuals have taken small lots. The debentures are for £lOO, interest being fixed "at 51 per cent. The loan will have a currency of ten years. Commenting to-day upon the state of unemployment in the city, the Mayor, Mr. R. A. Wright, M.P., expressed gratification flutt at least the distress was hieing greatly alleviated. He pointed out that within the last two or three weeks new relief works had gone a long way towards breaking the back of the proposition. There were now 349 men engaged on various city jobs apart from the reserves improvements. while the inspector of reserves had about 50 men employed. In addition to these some 40 men were still employed in the cutting oFthe big canal at the Evan’s Bay power station site. This gave a total of Ji' men who had been taken on in addition to the ordinary corporation staffs, merely for the purpose of affording them relief out of the funds so generously subscribed by the public.