CITY LOAN PROPOSALS.

Dominion, Volume 1, Issue 304, 17 September 1908, Page 9

CITY LOAN PROPOSALS.

A LARGE SUM REQUIRED. In June last tlio City Council agreed to a motion, advanced by Councillor Diss, that .the Tramway and Elcctric Lighting Committee 1 report •to the council on the capita) expenditure which was expected to bo necessary during the' ensuing twelve months. Tho report was prepared, and it was published last- month. It was estimated that a loan of £89,891 would have to bo raised for tram- - way - and. electric lighting purposes. . Tho is of the greatest importance to tho ratepayers, and the council's proposals will' bo awaited with keen interest. Tho public should learn shortly of tlio intentions of the corporation in tho matter, for a special mect.iSg of tho Finance Committee will be held probably on ."Friday or Tuesday next to con- , . sider the council's loan proposals. The committee's report will probably be ready for next week's- meeting. 1 Tlio following table gives an idea of tho works projected and their estimated cost:— £ ' Additions to rolling stock ... ... 6,848 -Additions to powerJiouse plant ... 16.007 Carshed, Thoriidon Quay ... ... 7 140 , Carslicd, Kilbirnie ' g'c3o 'Purchase, of Miramar tram-lino - within city boundary ... 1 2,105' Compensation for talcing land-at .•' ...• Winder's corner ... .... ... , 1000 '""* Customhouse Quay extension ... C'SOO'" < .Removal of earth—carshed site ... - 2,200 Constable. Street extension' ... 20j000 Land at corner of South Road and . Luxford Street .... • ... . 1,000 , Thorndon pay-in• office. ... 6,188 Lyell Bay extension-... ... -v.. 4,000 Extension of Wallace Street- line . .^'..to, Adelaide Road. ... 5,6-50' Extension to Wadestown [„!. ... 25,000 Island Bay feeder cable 1,590' Total proposal for tramways ... £111,858 , The elcctric light -work on hand comes to ■ • a-total of £33,100.1 A report, giving' additional figures to the - above, in seyepd cases, was- published on Tuesday morning. ■