FEDERAL MAIL CONTRACT.
THE ACTUAL POSITION. Pre-s Association-By Telegraph-Copyright Received 4.37 p.m.. May 26th., LONDON", May 25. ... It is understood! that tile following represents the actual present positiou as regards the mail contract; —lf any :,two or more States guarantee the debentureholders an annual.- paytiient .for ten years of £125,000, representing interest and sinking fund, the contractors will undertake to pay annually to the guaranteeing States £SOOO, ■which will be in the nature of an insurance premium for the risk undertaken. The contractors also undertake to give thi participating States the first call on a, considerable amount of refrigerating space in the mail boats for perishable produce.
• Mr Bent informed Mr Deakin that, Victoria is prepared to join in. the guarantee to the mail subsidy for ten. years on a population basis, if the other States participate. Mr Deakin . telegraphed to Sir John Forrest, asking if the other States would join, but si:. reply has. not been received. The syndicate offered Mr Bent, certain space if Victoria would guarantee a subsidy.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/THD19070527.2.33
Bibliographic details
Timaru Herald, Volume XC, Issue 13296, 27 May 1907, Page 5
Word Count
171FEDERAL MAIL CONTRACT. Timaru Herald, Volume XC, Issue 13296, 27 May 1907, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Timaru Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in