MOUNT EDEN FINANCES.

Auckland Star, Volume LXII, Issue 127, 1 June 1931, Page 14

MOUNT EDEN FINANCES.

I followed Mr. Eagle's electioneering campaign and was thoroughly disappointed that a man of his standing should attempt to deceive the ratepayers of Mt. Eden by making such statements on the finances of the borough, with a bearing on one side only In all case» he mentioned the liabilities, but never once did he give any statements or facts of all the assets. Repeatedly he emphasised the increase of liabilities of the borough from a quarter to threequarters of a million, but did not mention that the assets had also increased from three to five and a half millions. Would Mr. Nagle deem his own business in a serious position if his stock in trade Sd pSS wL valued at £5500 andL his liabilities were £750 I shouldlJhljfcJe would consider himself financially sound, and proportionally, that is the position of the Mount Eden borough to-day. Mr. Nagle's reference to the £40,000 indebtedness is quite misleading; he omits to state that there is from £60,000 to £70,000 rates to come in this year, besides a very large sum irom other sources. The pessimistic outlook ot tne borough affairs, as expressed by the new council- at their first meeting, is not only unwarranted, but injurious to the good name of the Mount gjg^f 1 -