West Coast Railway.

Manawatu Standard, Volume IV, Issue 110, 4 April 1884, Page 2

West Coast Railway.

-,4' ft? .» n . n ?»J! .meeting of the Company fix Wilson' saidihe thought a light might h&TA been thrown on the matter of floating the_ debentures. This £30 4 poo for loan debenture*} charges, wai a Urge ' sufli^ud .'he "had no doubt' if a little more exptdiiation 1 were v 'given, it *ould be very acceptable. 'The Chairman Replied that m the BScfii' ways Oonstruotion ; Act : of 1881 it waa provided that debentures might becpme colonial .securities provided ibpy wete not bearing more than 5 per cent. The balance of £8000 left 2 per cent, for the cost of floating the loan. A loan whicb^cpst the company only 2 per cent., he thought/ was most favourable. Mr Wilson said there was another item of £6Qno for preliminary: expanses. : I =.■■•- The i Chairman, said it waa /necessary* before floating the loan to dispose of thja. shares ; they could not borrow tbe amount thay Wanted till^ the whole ofiHe' shares h*d befed:dwp<»sidof. Thi« ; ttttß^'prk-" lhninary!«K|)eiißeß. > ■ :' •- - r ■•';•' Mr Wilson expressed hia entire 'satis- 1 f«jtioh,*ifrfc thie w : orfc of fob^directors, Hehad simply aaked for information. ; The motion-for the adoption of re>i port was then put and r carried" 'unanf^ ' mously. -t •<- : " ■ ■.;•..>«. -iiin:--.': • ' ■>••■• .'-.: — - -^ - ■ ; f 'i