UNKNOWN

Auckland Star, Volume XXII, Issue 93, 23 April 1891, Page 2

UNKNOWN

(To tho Editor.)

Sift,—l see that a syndicate intends to introduce p, Kill into our Parliament to secure a monopoly of the right to supply elec* tricifcy for all purposes to the inhabitants of the city and suburbs of A«ck land - When last year our City Council caused the re.jootion of tho local (Jas Company s Bill for a similar purpose they were justly commended, but if they now allow any foreign company to secure tho right they will betray tho confidence with which all now regard them as the trusty custodians Of tho public interests. Many things uhoukl bo under the control of municipal governments, and chiefly amonga* these, water, tras, electric appliances, drainage, hospitals, charities, public parks, libraries, and general sanitation, and I trusfe that instead of permitting another monopoly to be established they will take steps without injustice to tho Giie Company to secure that concern for the city. At present) price of shares 8 per cent, interest is paid to shareholders, and the Corporation should be able to get the concern at certuinly not more than tho six months' last average price, and which shareholders could be compelled to accept with justice. The Corporation debonturoe at a rate of interest of cay 4 or4i per cent., should be worth par aud could be used to pay off the Gas Company. Thus the citizens would save 3fc or 4 per cenC, which could be used to reduce the price of gas or for tho Free Library to increase the light of knowledge, or to reduce taxation. The Birmingham Corporation own the Gae Works, and gas costs the citizons 2a per 1,000 feet. Our strength lies j,, Co-operation. (The Company dieclaim any desire to secure exclusive rights.—Ed. E.S.]