THE Marlborough Express. Published Every Evening MONDAY, JULY 18, 1887. BOROUGH LOANS.

Marlborough Express, Volume XXIII, Issue 142, 18 July 1887, Page 2

THE Marlborough Express. Published Every Evening MONDAY, JULY 18, 1887. BOROUGH LOANS.

4Should the Borough of Blenheim decide to place upon the London Market a loan for the purchase of the gas works, and for town improvement purposes, it i 3 to be hoped that it will meet with a better fate than did that of the Hastings Borough, recently. ' The failure of that Borough to float their loan was a great surprise to everybody, especially as securities of a very substantial character were offered, well calculated to dispose anyone possessed of surplus wealth to regard them as furnishing a profitable and safe investment. The locality of the Borough, according to a northern contemporary, is a favorite one, being situate about ten miles inland from Napier, on the trunk line of rail, with abundant scope for expansion, and of easy access both from the country and the port, its prospect is that of becoming to the Hawke'a Bay province what Christchurch ia to the province of Canterbury. There is, m fact, no young Borough m New Zealand possessed of a more promising future, and it might therefore have been reasonably expected that its debentures would have been eagerly sought after by discerning investors. And yet, notwithstanding all these favorable inducements, the loan had to be withdrawn, as only one hundred pounds were tendered. That fact speaks volumes as to what is thought just now of New Zealand m British financial circles.