WAIMAIRI FINANCE.

Press, Volume LVII, Issue 17273, 11 October 1921, Page 5

WAIMAIRI FINANCE.

POSITION DISCUSSED.

Particulars regarding the financial position of the Waimairi County were asked for by Mr W. P. Spencer, at a meeting of the "Waimairi County Council' last owning. "Lots of stories are going round," said Mr Spencer," and it is being stated in the city that we are £26,000 in debt and that we are all liable to be arrested. T want the chairman to tell the public how we stand. These stories are damaging to the chairman, the ex-chairman and trhe Councillors. According to the chairman's remarks at a public meeting in Pauanui on Saturday night the Council is "£9OOO down. I think the position is better than that." Mr Seymour stated that the actual amount of the overdraft was £BB6I 4s 4d. "Well, I object to these little jstories going round," said Mr Spencer, "they're getting on my nerves." The chairman (Mr W. J. Walter) said that he was not in a position to voak6 a statement that night as he had not by him the details of the County's position. Some people thought that the County was in a bad way, but the position was not so bad as, they thought. If they economised. they should wipe off from £4OOO ta £SOOO by the end of. the year. Mr Spencer: It's scandalous. People are getting the impression that were bankrupt. '_•.•■ Mr Seymour: Isn't there a certain amount of truth in the stories going round? It was only when the bank manager told us that if we didn t curtailour expenditure he would stop our cheques that we began to economise. ■Mr Sisson: He didn't say that—not the part about our cheques. Mr Seymour: That was the statement made here. We AonH, want to lead the publicto believe we're perfectly financial. Our expenditure is still runningus into debt. , Mr Sisson said that the Ternaries made by new members on the Council cast a reflection on the older members. They might' have been remiss, but they n*a

been swept off their feet by the increased cost of everything. They had made the mistake of not putting up the-rates —and trying to sail "as near'the wind as they.couTd; The electrical scheme had also put them into debt, because they did.not borrow enough moneV. The whole trouble was that they had been afraid to put up the rates. / • In replv to a question, the chairman said that" the Council was £358 9s 8d to the bad on its electrical undertaking,. After further discussion the chairman undertook.to,make.a full statement regarding the County's financial position at the next meeting of the Council.