OAMARU HARBOUR BOARD.

Otago Witness, Issue 2927, 20 April 1910, Page 18

OAMARU HARBOUR BOARD.

THE DREDGING SCHEME. CFbom Oub Own Correspondent.) OAMARU, April 12. The Harbour Board's dredging scheme occupied the mind of members for a considerable time at this mornings special meeting. . . ~ Mr J. Blair Mason wrote thanking the board for its mark of confidence in appointing him dredging superintendent. He regretted, however, that his duties to the Otago Harbour Board did not permit of his accepting of the position, as that board's affairs required his unremitted' attention. Mr Mason went on to say that the local board's officers, with any advice or suggestions he might be able to give, were competent to carrv out the work. He had examined the contractor's plans, and was of opinion that the plant shown was not adequate to meet the capacity of the dredge Progress, and that they were not detail plans as required by the specifications. The specifications gave the contractor two months to enable him to provide such plans, and this period having expired, in Mr Mason's opinion, it constituted a breach of the contract by the contractors. The board went into committee to consider the plans submitted by the contractors. Mr Stevenson, representing the Dunedin Engineering Company, was present, and was heard by the board. After considerable discussion, the board resumed and confirmed the resolution of committee—" That .the Dunedin Engineering and Steel Company be requested to supply all necessary details in connection with its scheme as outlined in its schedule, and that it consider the question of performing the dredging required in the harbour, and submit price for fame to the board." Among other matters discussed was the question of a compromise with the 1879 bondholders, whose position has been the subiect of much adverse comment, beinc; rendered unsatisfactory bv vasnn of the fact that the loan of £200,000 is not

secured by a rate. Negotiations have been, entered into with the bondholders' committee in London, which has signified its willingness to consider an offer of £50,000 in full liquidation of the loan and interest. In this connection the following resolution was confirmed by the board : —" That the draft agreement between the committee of the 1879 bondholders and this board now laid before the board by the board's solicitors be ap-. proved."