an amount of £2,500 Is being paid regularly each week towards the Joan service, During the course of the year these weekly contributions. wilt total £190,000, whilst the payment of two coupons on the loan Outstanding calls only for £138,000, There are three interest coupons in arrears, and, of course, amortization Payments have to be taken Into consideration, but providing that "net revenue for the current fiscal year does not fall below that for the year ended last June, and as pointed out, owing (0 the smaller costs of opera: tion, this net revenue is likely to be larger, it will be possible to pay the we. coupons representing §2.277,000 $1080 to the £ and sti Yeave $1,000,000 for other requirements. view of the demands made upon the Ministry of Railways, it may be found impossible to devote this surplus immediately to clearing away nil arrears. of debt, but bondholders certainly have the satisfaction of Knowing that their regular interest fv about aswell secured as it can be, and that there is always the possibility of an extra coupon being pald when the general financial posi-Vion Is propitious. In the clreumstances, n market quotation of between £80 ahd £00 for the bonds cannot be regarded as unreasonably high.
Text read from the printed page and cleaned; old type leaves the occasional error.