EAST COAST LINE.
FINANCING OF WORK
ENGLISH CAPITAL AVAILABLE.
Per Press Association. HASTINGS, Oct. 29. One of the conditions on which the Government agreed to hand over the East Coast railway to private enterprise was that £500,000 of the money necessary to complete the line must be raised in New Zealand. The committee is now seeking to persuade the Government to withdraw that condition. 1
It is stated that a London group of financiers is evidently prepared to find the whole of the necessary money and begin the completion of the line more or less immediately so long as the condition is not enforced. It is felt that insistence on the condition would cause much delay and confusion in drawing up the scheme of financing the work.
It is understood a visiting representative of the financial group has given an undertaking on the lines indicated.
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https://paperspast.natlib.govt.nz/newspapers/MS19341029.2.8
Bibliographic details
Manawatu Standard, Volume LIV, Issue 284, 29 October 1934, Page 2
Word Count
145EAST COAST LINE. Manawatu Standard, Volume LIV, Issue 284, 29 October 1934, Page 2
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