HOBSON BAY RESERVE.

Auckland Star, Volume XLII, Issue 194, 16 August 1911, Page 6

HOBSON BAY RESERVE.

(To the Editor.) Sir, —In view of your timely warning re "plunging," and a note to the same effect from Air. Bcauchamp of the-8.N.Z., Mr. Leo. Myers and others, it would be well in this age of borrowing for bodies, private and public, to pause and consider. The proposed reclamation of Hobson Bay for a park is no doubt a very excellent idea, but amongst the many I cannot find anyone who has considered the question of ways and means, and the greater question, as to whether we can afford it. To reclaim this park, nothing less than 10,000 cubic yards per acre could be counted on, 76 acres means 760,000 yards, or with extras for roads, top dressing, etc., not less than 1,000,000 (one million). This at 1/ per yard would be £50,000. There will be road formation as per agreement. Levelling, fencing, draining, grassing, a big culvert, and some building, together other (incidentals, totalling perhaps another €IO,OOO. Tn addition to this, the local bodies concerned are to be held responsible for all claims as to loss of riparian rights. Interest and sinking fund on this loan of £60.000 would probably absorb £3OOO, making •\for the 50 years' lease the sum of £150,000. Rent at £OO per annum for 50 years, £4500. This, together with lirst loan of £OO,OOO. amounts to the grand total of £214,500, all sunk money, with at the end of 50 years nothing to shew but a very lean cash box. In addition to this, the local bodies concerned are faced with an absolute expenditure of some £30,000 each, in connection with the main drainage scheme. If my calculations are wrong, I should like to have them corrected.—l am, etc. A.B.