ENGLISH RAILWAYS
MODERNISING OF SERVICES LARGE GOVERNMENT GUARANTEED LOAN V A ; C (Britieh Official Wlrclesai RUGBY', 30th January. The Railway Finance Corporation, Ltd., has published a prospectus announcing the issue of £27,000,000 21 per cent, guaranteed debenture stock redeemable in 1951-2. The issue price is £97 per cent. The object of the loan, which is guaranteed by the Government, is to provide the four main line railways, with capital-for the development aiid modernising of services on cheaper terms than they could borrow directly from the public, the purpose being to, increase trade and employment and to improve the efficiency of the railways.
The terms are the same as were fixed for the Government-guaranteed loan of £32,000,000 issued last summer for Loudon transport. Contracts worth, more than £500,000 have been placed by the London and North-Eastern Railway in connection with the programme of development under the loan scheme. Orders include 100 now passenger coaches and 500 specially-constructed wagons for the conveyance of containers.
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Bibliographic details
Nelson Evening Mail, Volume LXIX, 1 February 1936, Page 7
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162ENGLISH RAILWAYS Nelson Evening Mail, Volume LXIX, 1 February 1936, Page 7
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