TIMARU HARBOUR BOARD.
(Pkr United Press Association.) TIMARU, July 25. The Harbour Board hus to renew or pay off the £100,000 loan (London) of 1883 and is arranging to raise the funds locally at 5 per cent, for 16 years without expense. The board would have to pay o per cent, in London and about £5000 for raising the fresh loan. About one half of the money has already been boojeed without advertising, The Finance Committee is as a conscquenoc highly pleased, The board lias undertaken to extend the eastern rubble mole by 500 ft by day work and to-day appointed Sir M. F. Slowey as foreman at £8 a week, phis a percentage of any saving effected, on t.ho engineer's •estimate. Tho chairman held that this arrangement combines what is best in tho day labour and contract systems. He.admits that it forms a. new precedent,' but says it is a very good one,
The port, earnings for the first eix months of this year exceed those of the same period of lust, year by £1300, and aro a record for any half joar,
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Bibliographic details
Otago Daily Times, Issue 15826, 26 July 1913, Page 6
Word Count
184TIMARU HARBOUR BOARD. Otago Daily Times, Issue 15826, 26 July 1913, Page 6
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