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FREMANTLE TRAMWAYS AND ELECTRIC LIGHTING. THE LOAN AGREEMENT. The agreement made between the Mayors of Fremantle and East Freman tle (Messrs. F. Cadd and W. C. Angwin) on behalf of their respective Municipal Councils, with Messrs. Frederick Thone mann and Co., of Melbourne, through the Commercial Bank of Australia. for' the underwriting of the loan of £80,000 in connection with the Tramways and Electric Lighting Scheme, sets forth: "(1)-The municipalities shall invite public sub-criptions for debentures by the isuo of a prospectus to be mutually agreed upon, on or before June 22. The debentures and interest shall be payable through the Commercial Bank of Aus tralia at the option of the tenderer, to be declared in his tender, but the under writer shall be allowed one month to exorcise such option aftEr the allotmnint of the debentures. The Commercial Bank shlail act as the agent of the Muni cipalities for receiving tenders. '(2)-The underwriter shall apply for the whole of the debentures at the price of £96 for each £100 of the debentures on or before July 14, 1904. and shall lodge wish the municipalitics, in pro portion of the respective amounts to be raised by them, a deposit of £10 per cent. on thes amount of the debentures on the execution of the agreement. "(3)--All public subscriptions for the debentures at or above £901 shall go in reduction of the application by the un derwriter, who shall take up the residue of the debentures not applied for at or above the minimum price, and shall pay the residue of the purchase money therefor within six months ffom July 14. Any sum tendered in .exess of £96 shall belong to the municipalities. "(4)-The municipalities shall pay to the underwriter a comnission of 1I per cent. on their respective proportions of the debentures within one month after the last day for receiving applications for debentures. "(5)---Brokerage shall be allowed by the municipalities at the rate of } per cent. to brokers who are members of re cognised Exchanges on all debentures al lotted to the public through them, and to the underwriter on the debentures al lotted' to him. "(6)-The agreement is executed by the underwriter on condition that an agreement is made with Messrs. Noyes Bros to employ them to design and eon struet the system of electric tramways and lighting for the purpose of which the money is to be borrowed. "(7)-In case the underwriter shall fail to pay any balance which he may be liable to pay pursuant to the application for the debentures, the deposit of £10 per cent. referred to shall be forfeited to the Municipalities as liquidated dam ages, aud. not as a penalty." THE POWER HOUSE AND CAR BARN SITES. On Tuesday last while in Perth as a member of a deputation, the Mayor of Fremautle (Mr. Frank Cadd) asked the Minister for Lands (Mr. Hopkins) whe ther he could supply the Fremantle Municipal Council with the exact meas urements bf the two blocks of land at the west-end of High-street. upon which are to be erected the power house and car barn in connection with the Tram ways and Electric Lighting Scheme. Mr. Cadd pointed out that the engineers who were to carry out the construction work required the measurements for the draw ing of their plans. Mr. Hopkins replied that the papers were in the hands of the Railway Department. but he would com municate with that Department so that the Council might have the particulars required as early as possible.

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