MIDLAND RAILWAY.
[BY TELEGRAPH.-—IT.ESS ASSOCIATION*.] Wellington, Friday. When Mr. Coates, general manager of the National Bank, - was appointed receiver for the Midland railway debenture-holders he made ah, arrangement with the general manager of the company to assist him in the duties of receiver at a certain salary, onehalf of which was to be paid in any case and the other half in the event of a cash settlement being effected with the Crown. It was also agreed that half the salary unpaid should beat interest. The receiver informed the Chief Justice in chambers to-day that in his opinion the Government would pay £110,000 to the debenture-holders if they would accept that sum in settlement of their claims. He asked His Honor to make an order for payment for salary due so as to avoid payment of further interest. His Honor made the order.
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New Zealand Herald, Volume XXXIX, Issue 11986, 7 June 1902, Page 5
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143MIDLAND RAILWAY. New Zealand Herald, Volume XXXIX, Issue 11986, 7 June 1902, Page 5
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