THE GISBORNE HARBOR LOAN OF 1885.

Gisborne Times, Volume XLV, Issue 4001, 6 August 1915, Page 4

THE GISBORNE HARBOR LOAN OF 1885.

LIABILITY NOW WIPED OFF

The ratepayers generally y pleased to hear that this liabdi

boon wiped off. The I nion Ik nk n<i-visc-d the Board that if the balance due November 1, 1013. was scut Home at- once by current mail by a draw at 30 days sight a large saving would ho effected, as probably if the Boatd waited until October tho rates of cx change would he considerably increased, and if cahhxl higher still. Re >ec Chairman, with the sanction of ibe F.i n a nee Co in n littce, communicated with the Public Trustee, who at piesent has some £130,000 accumulated sinking funds in his hands, wit a the result that £88,900 of this amount was placed at tho disposal of the Board and a draft for this amount forwarded to London yesterday on a cable that debentures to- this amount were lodged at the Bank of Now Zealand. London. Thy Board also sent Homo n draft for £3OOO to cover interest due up to November 1. 1913: 'The position of the Gisborne Harbor 'Board Loan, 18S3, is as under:--Vj Debentures due Nov. 1. 191.3 200. New Debentures of 1913 .Loan exchanged for old debentures 1.11.100 Draft at 30 days sight forforwarded Aug. -L 1913 .B§,o> iO £200.000 Jj