TIMARU HARBOUR.

Lyttelton Times, Volume CXVII, Issue 17078, 29 January 1916, Page 4

TIMARU HARBOUR.

[Per Prkss Association.] TIMARU, January 28. The Timaru Harbour Board has completed the redemption of three loans falling due this year, £IOO,OOO at 5 per cent, £IOO,OOO ok 4 and 4J per cent, and £32,900 at- <U and 4* per cent, by tho issue of the total amount at 5 per cent in tho Dominion. The actual cost of tho issue, which was effected by* the office, was only £43 12s sd. Receipts from premiums of interest on temporary investments gave a profit of £334, equal to an average premium of nearly 3s per cent. The chairman td-dav said that it would hare cost £14,000 to raise the amount in London, and it was doubtful if it could have been raised there at 5 per cent. An extension of the eastern mole ot the harbour by 'lsoft has been completed, and tho engineer that 70,154 tons of stone were, used in it.