=Source.=--_The Times_, September 2.
A subject of great interest was discussed at yesterday's meeting of
the Liverpool City Council. In seconding a recommendation of the
Finance Committee that the settlement of the prospectus and terms
of issue of the first £2,000,000 of stock to be created under the
Liverpool Loans Act be referred to that Committee, Alderman A. B.
Forwood explained that the Bill had now passed both Houses.... It
had been a very difficult and intricate matter to get the Bill
through, because the Liverpool Corporation were the first in the
kingdom to obtain powers to fund their debt in the way proposed. He
believed that, when the new water scheme was passed, the new mode
of raising money would materially reduce the cost of money to the
town, and would effect the saving of £25,000 to £30,000 a year. The
stock would be put in exactly the same position as Consols.