THE HALF-MILLION LOAN.

Otago Daily Times, Issue 11229, 27 September 1898, Page 7

THE HALF-MILLION LOAN.

DIVISION OF THE MONEl r. . 4175,000 FOR RAILWAY .EXTENSION. (Feom Otjr Own Correspondent.) '"" .' WELLINGTON, September 23. ; The Aid to Public Works and Land Settlement Act Amendment; Bill was introduced by Message from the Governor this afternoon. The main 'provisions of the, measure are as follow: —-'■■■■• '■ " : 1. The act shall form part of, and be read together with, "The Aid to Public Works and Land Settlement Act, 1896" (the principal act). 2. The power by the principal act conferred upon:the Colonial Treasurer to raise the sum therein mentioned of one million pounds is hereby extended to 'include such additional sums, not exceeding in the whole the sum of £500,000, as he thinks fit, provided that such additional £500,000 shall be deemed to be irrespective of all moneys raised under the powers in that behalf contained in " The Aid to Public- Works and Land Settlement Act Amend-ment-Act, 1897." :''-. 3. For.the purpose oi enabling the £500,000 to bo effectively raised all I the powers of the principal act relating to the sum of one mil- ' lion pounds shall apply to the £500,000. *4. All moneys raised in . respect of tho £500,000 shall, as and when raised, be paid into the public \account to the credit of the public works fund, and shall from time to time be applied to the works arid purposes and in tho amounts respectively specified in the schedule hereto, provided that no payments out of the public works fund shall be made, in respect of such works or purposes without appropriation by Parliament; provided further that tho costs an'd.expensesincurred in raising the aforesaid moneys shall be payable out of the public works fund without further appropriation than this-act. ■ .

A. In respect of railways, the construction of tlia following railways:—"Wliangarei-Kamo extension. Helensville Northward, GrahamstownTe- Arohay North Island Main Trunk, Eketah'.ina^Woodville, < Blenheim-Awatere, Midland, Ofcago Central,-Heriot extension, Seaward Bush, Forest .Hill^-£175,000 ■'■

; b. In-respect-bf^opon railways: ..'Additional rollingl stock and 'suchrbtherworks and purposes as may be.authorised,-£200,000. 1 0.-In respect .of land settlement and goldfields development; the construction of roads, tracks, and bridges, and such-other works and purposes a3 may be authorised, £125,000.