The Town And Port of Leith: Its Historical Connection With the City of Edinburgh
The Town And Port of Leith: Its Historical Connection With the City of Edinburgh
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The amount of debt on the Docks was then stated at £265,000.
In consideration of a part of the inner wet dock and a space of ground Digitized by Google LEITH A SEPARATE MUNICIPALITY. 53 adjoiniug being given up to the Commissioners of His Majesty's Navy, the Government gave a loan of the above sum at the rate of 3 per cent, per annum, on a sinking fund equal to 1 per cent, annually for the first twelve years, and 2 per cent, thereafter. This was to accumulate, for the purpose of extinguishing t...he debt, and when the debt was paid the Docks were to revert to the City of Edinburgh.
The Town Council of Edinburgh, by the terms of the said Act of Parliament, entered into an agreement to expend out of their shore dues £28,000, on the extension of the Eastern Pier, while the Govern- ment undertook to pay £19,000 for an extension of the Western Pier, so as to form a communication to the naval yard.
On the 15th day of August 1826, amid great rejoicings, the foundation stone of the new or extended Pier was laid.
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To quickly assess the difficulty of the text, read a short excerpt:
The amount of debt on the Docks was then stated at £265,000.
In consideration of a part of the inner wet dock and a space of ground Digitized by Google LEITH A SEPARATE MUNICIPALITY. 53 adjoiniug being given up to the Commissioners of His Majesty's Navy, the Government gave a loan of the above sum at the rate of 3 per cent, per annum, on a sinking fund equal to 1 per cent, annually for the first twelve years, and 2 per cent, thereafter. This was to accumulate, for the purpose of extinguishing t...he debt, and when the debt was paid the Docks were to revert to the City of Edinburgh.
The Town Council of Edinburgh, by the terms of the said Act of Parliament, entered into an agreement to expend out of their shore dues £28,000, on the extension of the Eastern Pier, while the Govern- ment undertook to pay £19,000 for an extension of the Western Pier, so as to form a communication to the naval yard.
On the 15th day of August 1826, amid great rejoicings, the foundation stone of the new or extended Pier was laid.
What to read after The Town And Port of Leith: Its Historical Connection With the City of Edinburgh?
You can find similar books in the "Read Also" column, or choose other free books by James Colston to read onlineMoreLess
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