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Family Notices


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OUR Contemporary then proceeds and ac- cuses the Directors of the Bank of resort- ing to sharp practice in refusing to advance the £ 19,000, which was the balance of the £ 35,000 they had agreed to lend when we gave them the second shilling rate. There is one small item which our Con- temporary has conveniently forgotten to state, namely, that the Harbour Trustees had agreed to apply for it previous to September last, but failed to carry out their part of the agreement in this respect, I not through any fault of their own, but in consequence of the dilatoriness of the Board of Trade. Another little statement which our Contemporary has conveniently forgotten to make is, that the Directors have again agreed to ad vance the £ 19,000 and X21,000 more, should we requite it, at the same rate of interest, namely, four per cent., to carry out any improvements in the channel and harbour. Why, then, I blame the Directors of the Bank for re- fusing to advance a sum which was not applied for within the stipulated time. Our Contemporary also states that the Trustees are always in arrear with their interest. This is brought forward for the purpose of endeavouring to prove that the dock is H unreinunerative property." It, however, forgot to remind its readers that five years ago the Trustees owed the Bank over X6,000 as arrears of interest, and that during the five years ending September last they had managed to pay the whole of the current inter.st and also about X,4,000 of those arrears, which amounted to nearly XI 000 per annum. Had it not been for this, the two shilling rate would have been reduced to one shilling and ninepence, which proves that the harbour is not, after all, such unreinunerative pro- perty as our Contemporary would have us believe. j ■ ,— -+-

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