THE NEW PLYMOUTH HARBOUR BOARD. New Plymouth, July 9.

Otago Witness, Issue 1901, 17 July 1890, Page 11

THE NEW PLYMOUTH HARBOUR BOARD. New Plymouth, July 9.

At a meeting of the Harbour Board this morning two letters were read from the bondholders in England, both expressing surprise at receiving only a portion of the interest due. One writer said that in withholding information the board must have had some object to serve to afford those behind the scenes an opportunity of disposing of their bonds held before the public at large were aware that any default would be made. He goes into the matter of the land endowment, and quotes the prospectus issued previous to the loan being raised,- adding that " the Government are undoubtedly rasponsible to the bondholders, and also responsible to your board for the outlay of mou«y. Why then do you not apply to the Government to make good the deficiency of the coupon?, and ask them to manage the sale aud settlement of tho land on a system that would ensure the bondholders being properly treated?" In conclusion, he alludes to the indirect loss thai; the colony must suffer by this default, as anyone with a knowledge of investments in this colony must be aware that confidence is of vast importance to every country. Another bondholder says: "I invested my money eight years ago, believing that I had good security, in so far that the New Zealand Government had passed the wet for this New Plymouth Harbour, and all interests were well guarded. I was induced by the late Mr Weatgarth to place my money in what was then held to be one of the best and safest harbour loans from the valuable land grants set aside for the payment of interest and capital. 'No doubt the colony of New Zealand has been improved by making the New Plymouth Harbour, and as the Government have broken the terms of the land grant they had better take over the harbour and return the money which was borrowed to the debenture-holders." The Harbour Board are now considering the letters. The writer of the first one states that he only purchased the debentures on April 28 last, when they were at 103, and complains bitterly that the Harbouc Board, knowing their position, had delayed in announcing the fact. Twelve mouths since intimation was sent Homo to the debentureholders, but it was withheld at the request of. the Government, who paid the last interest due on the loan. The chairman of the board stated that if an inquiry were held he was certain that the board would come out of it all right, and that the Government would be held responsible for the board's present position.

The hospital returns for last week ar© as follows j—Remaining from previous week, 93 ;3 admitted during week, 11 ; discharged, T» deaths, s— viz, Patrick Welsh, Wm. Harper, Ada Walker, Wm. Anderson, and Caroline Whiteney leaving the number reroajning at the God of ttifc week, 9^