Page 3 Advertisements Column 1

South Canterbury Times, Issue 6384, 27 November 1890, Page 3

The Wellington Post of the 19lh says : It appears that the coupons on the New Plymouth Harbour Board debentures which were duo on the Ist inst. have not been,met* The Board cabled Home all the money that it could collect, but that amounted only to £3OOO. This is stated to have been sufficient merely to pay the balance of interest owing on the May coupons, regarding which a partial default, it will be remembered, was made. Nothing was left to go toward meeting the November coupons, upon which we therefore presume a total default was made. It is a little surprising that more has not been heard of this matter from London; bub it ie now evident that this last default, on the Ist November, has been the text on which all those fiercely scolding articles in the London Daily 'News and other journals have been founded. We understand that the Government do not purpose taking any steps in the matter. It is fortunate for the colony that no now loan is pending just now. We fear its prospects would have been by no means rosy. Perhaps the luckless holders of New Plymouth harbour stock may regard it as distinctly unfortunate for them. The expedient, however, which was adopted last time of advancing monev to meet the interest lest the colony’s oeedit should suffer could hardly have been resorted to again.