THAMES NEWS.

Auckland Star, Volume LX, Issue 99, 29 April 1929, Page 19

THAMES NEWS.

THE POSITION Of THE BOROUGH. increased revenue from ENDOWMENTS. (From Our Own Correspondent.) THAMES, Saturday. At the first meeting of the newlyelected borough council a report on the position of the borough was presented. This showed that the public debt at March 31 was £200,940 o, 11. The amount collected in rates amounted to £15.696 6'6. During last year the council was able to reduce the general rate irom 5%d to 3%d, resulting in a saving to the ratepayers of £1782, and it anticipates being able to make a further reduction during the coming year. Up to the year 1927 the endowment land at Te Aroha wa* only part let and produced a revenue ot £397. Bv arranging new leases the whole area has "been made revenue producing to the extent of £800 per annujp In seven years this will increase to £1279. , matter of loan conversion in respect to the borough loans at a lower rate of interest as a further means of reducing the rates will be effected as soon as the financial market is favourable, luring the last two years a large amount of permanent *oik has been undertaken and completed, and the general position of the borough u satisfactory. Future of Thames. Following upon the recent lecture on the future of Thames, g i y e *\ mi.' ' ! Crawford, the director oi the School of Mines, in which he . *^ ow ? d great possibilities of successfully paling with the low grade ores of the district, deputation from the Thames Boroug Council, the Thames County Council, the Thames Harbour Board, and the Tha Chamber of Commerce will wait upon the Hon. W. A. Veitch, Minister ot Mines, when he visits Thames on Wednesday and endeavour to get the Government to defray the cost of treatment of 500 or 1000 tons of low grade ore from different localities to prove the values. Should the Government accede to the request and the values stated by Air. Crawford are in the ore, there is any ■mount of capital available to proceed w ith the undertaking, which would mem great prosperity to this town and district.