GREYMOUTH.

Dominion, Volume 3, Issue 896, 16 August 1910, Page 9

GREYMOUTH.

: ITS. FINANCIAL POSITION. ■ * -•' , (From Our' Special Correspondent.) Oh August U a meeting of Greymoutb ratepayers was held in the Town - Hallfor tho purpose of considering a proposal of the Borough Council to borrow £23,1)10. . j The chair was occupied by tho Mayoi, who made, in tho course ol his address, some startling statements anent the bor-ough-finances. He told tho meeting that, shortly .aiter. his election, he found that un March 31, • the debit balance,, was ■£20,000, that there was no innoey to curry on with, and that no provision had been made for tho ,£6OOO which tho additions to the- gasworks entailed. Tho borough revenue, ho asserted, was .£20,0(111,. but it was all absorlied in interest. The profit from tho waterworks , was verj) small, because too much water, was given away, and too much -was 'wasted. ■ Over •«200 .was annually lost on the library. Last year's rates were «£sOll ss. lid., anil of this sum .£1505 14s. 7d. was uncoliccted. The Mayor vouched for the coirectness of the figures quoted, because, as he said, they 1 were furnished him by the borough accountant. He added that, provided the proposed loin was agreed to, the total debt of the town would, be ,£130,000., ; . The Town Clerk, who also addressed tne meeting, , made the rather astonishing statement thdt the borough . will bo in a worse plight next .year,'■ as there will not then, be such a large number! of outstanding accounts upon which to procure an overdraft, and that to collect the moneys 'due to it appeared to be a idisadvantagfi to the town. '."'.'•'