GORE-WAIKAKA RAILWAY
DEBENTURES PURCHASED BY B4XK OP NEW ZEALAND.
(Pes United Phms Association.)
m, ~ , , , BORE, Match 26 Iho directors of Iho Oore-Waikaka Railway imanco Company accepted the tender te-da, o the Bank- of New Zealand for the purchase of £50,000 worth . f Government debentures for the work of construction of the Gore-Waikaka lallwav, wlucn wai authorised by Parliament under "The \Uikaka Bianeh Railway Act, 1905." Iho tender was considciod moie favourable than was expected, being a stiaightout offer for (ho purchase of all the U\ eminent dobontuiw. Tho on-n-ul intention was to keep (ho company in existence for tho whole period of eight years (the currency of Iho dobonhues), hut the offer makes this unnecessary, and it will bo possible to wind up the company in a shoit time. Tho sunev of the line has been completed, and it is understood lliat_ the cost vill 1, 0 „ 0 11 within tho original estimate. Tho cost to shareloldois in the company will bo from £5 to £7 per £100 share.
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Bibliographic details
Otago Daily Times, Issue 13862, 27 March 1907, Page 5
Word Count
169GORE-WAIKAKA RAILWAY Otago Daily Times, Issue 13862, 27 March 1907, Page 5
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