Westminster Daily News
data provider: CONTENTdm
alternative: [New Westminster Daily News]
issued: 2015-11-18
issued: 1912-10-01
aggregated CHO: https://open.library.ubc.ca/collections/nwdn/items/1.0318001/source.json
format: application/pdf
note: ���pm UMHMMMMM MMMM '-ai���^S . ntXSIZm+m. ���mmi&i'mmaMSxanuamimm.'m-maimuSiSitmumt*.��' <��.'.��*tm^-m ��� VOLUME 7, NUMBER i te v, NEW WESTMINSTER. B.C., TUESDAY MORNING, OCTOBER 1, 1912. PK1CE FIVE OENTb MAYOR LEE MAhb REPORT ON BONDS $1,250,000 Sold at 92i/4- Interest Around Five Per Cent. Faced Most Unpromising Situation and Succeeded Where Other Canadian Issues Failed. WOULD LEASE NEW ARENA EOR RINK Application Made to City Council- Skating Four Months In Year- Patrick Interested. New Westminster wlll not be hampered for the lack of money ln Its great schemes for development. This much was clearly defined In Mayor Lee's report on his mission to London to sell tbe bonds. The report ls one of the most Important ever made In council and contains the story of bow the city's chief exceutlve succeeded where other people failed. The mos' striking announcement was that $1,250,000 of the Royal City's bonds although not out of the underwriters' hands, had already been purchased. The rate at which the securities will be sold Is 92%. The Interest may be a little abovo 5 per cent, or a fraction below, according to the condition of the money market. The million and a quarter of bonds already on call will be issued in a very short time, and will provide sufficient fund3 for local Improvements, Including the initial work on tbe harbor scheme. It has been found advisable to hold back the balance of the bonds until next spring, when, according to the mayor, a successful sale already la assured. To Establish Agency. "The councll and the genera] public will be anxious to know the result of my mission," said the mayor, as hs rose to present bis report. "In the flrst place 1 wish to state that it was a task which could not be termed a holiday. When 1 started out I was not asked to sell tho ctty's bonds, bul to establish a flscal agency In London with a responsible flrm which would take care of tho Issues from this c'.ty. When I got to Toronto on my way over I got cold feet as 1 wa…
note: Titled The Daily News from 1906-03-06 to 1912-04-24; Westminster Daily News from 1912-04-25 to 1912-12-04; and The New Westminster News from 1912-12-05 to 1914-09-04. Published by The Daily News Publishing Company, Limited from 1903-03-06 to 1912-04-24; and The National Printing and Publishing Co., Ltd. from 1912-04-25 to 1914-09-04.
has type: Newspapers
spatial: New Westminster (B.C.)
is shown at: 10.14288/1.0318001
language: English
lat: 49.206667
long: -122.910556
provider: Vancouver : University of British Columbia Library
publisher: New Westminster, B.C. : The National Printing and Publishing Co., Ltd.
rights: Images provided for research and reference use only. Permission to publish, copy, or otherwise use these images must be obtained from the Digitization Centre: http://digitize.library.ubc.ca/
is part of: BC Historical Newspapers
source: Original Format: Royal British Columbia Museum. British Columbia Archives.
type: Text