Queen's Park Oval Get Huge Govt. Loan

Date Published: 
1947-03-14
Source: 
Jamaica Gleaner
Page: 
14

Daily Gleaner Correspondent, PORT-OF-SPAIN, March 11:ā€”Controversial issue over granting of the Queen's Park Oval Government loan of 40,000 dollars reached a new development on Saturday when the Legislative Council's Finance Committee decided by a majority vote to authorise Government to proceed with the loan approved of by the Committee at a meeting held early last year.

The Queen's Park Cricket Club had requested Government to lend them 40,000 dollars to erect a 80,000 dollar pavilion and stands.

A Government official stated that the loan is to be repaid by 40 equal instalments of 1,462.22 dollars comprising capital and interest.

It is understood that the Committee decided to guarantee losses suffered by the club in connection with the proposed M.C.C. tour, up to slightly more than 7,000 dollars.