BIRKENHEAD LOAN WORKS.

New Zealand Herald, Volume L, Issue 15253, 17 March 1913, Page 5

BIRKENHEAD LOAN WORKS.

MONEY AVAILABLE. The Birkenhead Borough Council, realising that in order to complete the water supply and Toad improvement works for which the loan of £25,000 was authorised a .further amount was necessary, made application to the State-guaranteed Advances Department for an additional 10 per cent, of the amount of the original loan granted. The extra sum asked for, however, was not forthcoming from this source, owing to the already heavy commitments of that office to various local bodies. The Mayor of Birkenhead (Mr. Wm. Wallace) has been informed by Mr. Alex. Harris, M.P. for Waitemate, that as the result of inquiries made by him "as. to the sources from which money would Toe available for the works, Mr. Harris had accepted the amount from the Public Trust Department, conditional upon the approval of the Birkenhead Council. The Mayor of Birkenhead states that until the council meets the offer cannot" be dealt with, and added that the raising of the money required did not cause the slightest anxiety to the council, as there were also other, sources from which the money would be forthcoming. The principal consideration was to raise the • money on the most advantageous terms possible. There was no fear of the works being delayed owing to difficulties of raising the money required.