THE MANAWATU RAILWAY,
THE COMPANY'S OFFER TO SELL DECLINED.
WELLINGTON, April 2. The directors of the Manawatu Railway Company lately submitted to the Government an offer to sell the assets of the company for a sum equal to the company's paid-up capital — namely, £170,000, — with compound interest at 6 per cent, from the I time of the payment of calls, subject to allowance for all dividends paid and compound interest thereon ; the Government to assume responsibility for the company's debentures, debt, of £680,000, and all other liabilities. The Premier has replied that the offer could not be accepted, as the purchase money would come to considerably more than if the line were purchased under the original agreement. Six per cent, interest during the full time was also considered too liigb. The Government weie prepared to consider further proposals for the acquisition cf the line and land on better
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Bibliographic details
Otago Witness, Issue 2456, 10 April 1901, Page 10
Word Count
148THE MANAWATU RAILWAY, Otago Witness, Issue 2456, 10 April 1901, Page 10
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