HARBOUR BRIDGE

Nelson Evening Mail, Volume LXXII, 16 December 1938, Page 7

HARBOUR BRIDGE

CAPITAL FOR AUCKLAND PROJECT £2.000.000 AVAILABLE IN AUSTRALIA (United Pre»ts Asocialion! AUCKLAND. 15th December. Information that the capital to build the Auckland harbour bridge was now available in Australia at a satisfactoryinterest rate, provided the New Zealand Government guaranteed interest payments, was given to the annual meeting of the Auckland Harbour Bridge Company. Limited, to-day on behalf of the directors by Mr Julius Hogbcn. It was stated later that the sum available was £2.000,000. Mr Hogben detailed corerspondence he had had with M. R. Hornibrook Proprietary Limited. Brisbane, and the Prime Minister, Mr Savage. On 12th October last he had received a cablegram from Hornibrook stating that the capital was available. Subsequently he wrote three letters to the Prime Minister and on 14th November he received a reply from Mr Savage stating that

he had no objection to receiving a suggested deputation of two directors of the company, but that he thought it was quite unnecessary as so much had already been said about the project. The question to be considered was one of Government policy, which, of course, said Mr Savage, no deputation could decide. Mr Hogben proceeded to emphasise! the need for such a bridge. The Government had been in full possession j of all facts for the need of such a ] bridge for two years. He could not therefore understand its studied pro-j crastination. Mr Hogben asked, what influence could possibly be preventing! the Government from undertaking such J a major public utility if it were sin- ! cere in its declared policy of taking) men off public works to encourage New j Zealand industry. The advantages of I the bridge must be obvious, for it ! would immediately provide employment i for from 800 to 1000 men. The meeting decided to increase the capital of the company to £IO.OOO by the creation of 5000 new ordinary shares of £ 1 each ranking equally with the existing shares in the company. It Liked i Invent Thing' tie pot , tered with simple ideas and he patented them! To-day he nat- a fortune Have you an idea that saves time' ; j Consult us n«v —fully and confidentially Henry Hughes Ltd (Directors. W ! E Hughes and J. T Hunter. Registered i Patent Attorneys). 214-217 D I C Build inu Wellington Loca Agents - W Ron? . 9" Sons Ltd.. Hardv-st