SOUTH ISLAND RAILWAY
ENGLISH FINANCIAL VIEWS HIGHER INTEREST A POSSIBILITY. NEWSPAPER ADVISES CAUTION. By Telegraph--Press Assn. —Copyright. Australian Press Association. Received Sept. 1, 5.5 p.m. United Service. London, Aug. 31. The Financial News, discussing in a leading article New Zealand’s railway policy arising out of criticisms in New Zealand regarding the. South Island Main Trunk line, points out that the British investor will presumably be asked to lend money. If he forms the impression that the loans are to be employed on works that will long remain unproductive and constitute a drain on the general revenue, then the rate of interest will inevitably harden. “These considerations suggest in the present state of the railway finance of New Zealand and elsewhere that caution should be exercised where it- is a ease of embarking on heavy capital commitments,” adds the paper.
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Taranaki Daily News, 2 September 1929, Page 11
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139SOUTH ISLAND RAILWAY Taranaki Daily News, 2 September 1929, Page 11
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