NELSON INSTITUTE BILL.

Colonist, Volume XLIX, Issue 11999, 27 July 1907, Page 4

NELSON INSTITUTE BILL.

Wellington, July 26. The Local Bills Committee has inserted in the Nelson Institute Bill a new clause limiting [the rate of interest on any .^|money jborrowed under the Act at 6 per cent. Another amendment inserted gives the Institute authorities power to sell by auction or privately the lands mentioned in the fourth schedule, for the unexpired term of the lease, and apply the proceeds for the purposes of its annual income.