TIMARU HARBOR.
RENEWING £100,000 LOAN. DAY LABOR REVERTED TO. (Per Press. Association.) ' TIMARU, lait night. The Harbor Board have to renew or pay off the £100,000 loan (London) of 1883, and are arranging to raise it local, ly at 5 per cent, for 16 years without, expense. They would have had .to pay 5 per cent, in London and about £5000 for raising the loan. About half is'al-* ready booked without advertising.. The Board have undertaken to extend the eastern rubble mole by 500ft by day labor, and to-day appointed Mr M. F. Slowey, ' contractor, as foreman at £1 a week, plus 28 per cent, of any saving effected on the engineer's esthnatfei Th«. chairinan . held ' that \.his arrangement combines what is best in day labor and contract systems. Two members objeoted, one because it was forming a new precedent. The chairman admitted this, . but said the precedent was a, very gooci one. The port earnings for the first six months totalled £1300 over the sami period for last year, and a record foi any one half-year.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/PBH19130726.2.67
Bibliographic details
Poverty Bay Herald, Volume XXXX, Issue 13138, 26 July 1913, Page 6
Word Count
177TIMARU HARBOR. Poverty Bay Herald, Volume XXXX, Issue 13138, 26 July 1913, Page 6
Using This Item
The Gisborne Herald Company is the copyright owner for the Poverty Bay Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in