TIMARU HARBOUR BOARD.
TIMARU, July 25. The Harbour Board has to renew op pay off the £IOO,OOO 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 5 per cent, in London and about £SOOO for raising the fresh loan.. About one half of the money has already been booked without advertising. The Finance Committee is as a consequence highly pleased. The board has undertaken to extend the eastern rubble mole by 500 ft by day work and to-day appointed Mr M. F. Slowey as foreman at £8 a week, plus a percentage* of any saving effected on the engineer’s estimate. The chairman held that this arrangement combines what is best in tho (lay 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 six months of this year exceed those of the fame period of last year by £I3OO, and are a record for any half year.
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Otago Witness, Issue 3098, 30 July 1913, Page 13
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181TIMARU HARBOUR BOARD. Otago Witness, Issue 3098, 30 July 1913, Page 13
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