It Ims been decided by tho Gisborne Harbour Board to promote a Bill at tho next session of Parliament to compel tho Public Trusfceo to invest tho Gisborne loan moneys, subject to tho control of tho Board. The Public Trustee has lent it to tho Government at 4£ per cent. Tho Board has to pay tho British bondholders 5 per cent. Thus tho district loses TIOOO per annum. Tho Board says the money could be readily invested in the district osl first-class security at not loss than 6 per cent.
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Bibliographic details
New Zealand Mail, Issue 1157, 4 May 1894, Page 30
Word Count
90Untitled New Zealand Mail, Issue 1157, 4 May 1894, Page 30
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