PACIFIC CABLE'S PROGRESS
[FROM OCR OWN CORRESPONDENT.]
London, September 15. A special effort will be made this autumn to increase the traffic carried by the Imperial Pacific cable, and it is expected that the cable will be able to carry deferred messages, within a time limit of 24 hours, to New Zealand and Australia, at reduced rates, beginning from January 1 next. Within the eight years of the cable's existence the sum required annually from the co-partners, which are the Treasury, Canada, Australia, and New Zealand, to repay with interest the loan of £2,000,000 granted by the National Debt Commissioners for the original construction of the cable, has been reduced from £77,000 to £48,000. It is asserted that in the course of the next ten years the cable will have repaid the original construction loan, and it will thereafter prove a distinctly remunerative property of the Empire in the sense of belonging to the United Kingdom and the three Dominions in co-par tnery.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19111023.2.88
Bibliographic details
New Zealand Herald, Volume XLVIII, Issue 14818, 23 October 1911, Page 8
Word Count
163PACIFIC CABLE'S PROGRESS New Zealand Herald, Volume XLVIII, Issue 14818, 23 October 1911, Page 8
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.