EAST COAST LINE
PRIVATE COMPANY READY TO TAKE IT OVER By Telegraph— Press Association HASTINGS, October 29. One of the conditions on which the Government has agreed to hand over the East Coast railway to private enterprise, was that £500,000 of the money necessary to complete the line must be raised in New Zealand. The committee is now seeking to persuade the Government to withdraw that condition. It is stated that a London group of financiers is evidently prepared to find the whole of the necessary money, and to begin the completion of the line more or less immediately, so 'ong as the condition is not enforced. It is felt that insistence on the condition would cause much delay and confusion in drawing up the scheme of financing the work. It is understood that a visiting representative of the financial group has given an undertaking on the lines indicated.
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Bibliographic details
Timaru Herald, Volume CXXXVIII, Issue 19943, 30 October 1934, Page 4
Word Count
149EAST COAST LINE Timaru Herald, Volume CXXXVIII, Issue 19943, 30 October 1934, Page 4
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