ATHLETIC PARK.

Evening Post, Volume LXXV, Issue 121, 22 May 1908, Page 4

ATHLETIC PARK.

/ MUNICIPAL OWNERSHIP ; SUGGESTED.

DECISION DEFERRED FOR TWO - WEEKS. A report presented to tne City Coun.«il last night by its City Reserves Committee stewed that the committee 'had j <had an interview wiii. the chainnjiat qf , ,the Athletic Park Company, to*.fsc#-.' i*ain the terms and conditions !, .Upon' .which the City Council could a^re; 4he -Athletic Park. ' The ■comm}tte.e-' wagJ ,now able to submit tne followingS^for:-, * , ' The area of the ground is 8| aer^,, having a,_ frontage, to Rintoiil-street $f> 1660 feet together a frontage of; feet to Adelaide-road^ The lease was; granted in 1893 for a period of 6£sg%rs;i subject ta revaluation ,of. gifOUßa^ rent, only, at the expiration -of each tjgSffiii 9$ 21 years. The present -rental is £16$ o* •3d per annum. , The • rates and ' taxes; 'amounted in 1906 to £210 Os 7d, and in <1907 increasea to £247 7s Id. The shares and debentures subscribed amount to J85587- The assets, as per the last balt »nce-sheet of the company, are aB fol- ' £S 1. Formation of the. ground 3920 0 0 8. Plant, less depreciation.. „ 183 {J 6 * *$t s ::..tl^Z 'arc "* o Total ...'..,.: ~.i£568019 6 The Athletic Park Company have, made the committee a very favourable offer. They are prepared to sell the wholes of ,*heir right? and interest in th©."pa?k4oi,i j*he sum of J2455CU ' ' The total gate money received las^ year was £2367 13s 6d T of which-amount ,£1244 ~J3s 7d had been returned <to the ' clubs and: football unions. , who £;rised ! the park, " leaving a' balance 'of '*a;ils3. This, together with a sum of. '"28565" 19b .receipts from the grandstands, •'"leaves -an earning- power pf ' £1718 on r.j&asfc year's* working o£ tha company. ,;-iof this amonnc, maintenance and other * have to be deducted. ; ,> •"'• • " Tho committee have to recommend the> ','acquisition of the park to the favourable -consideration of the council. To enable " councillors to be conversant wifjh the! r details, the last balance-sheet of the • , company will be laid on the table of the '■•council, and the committee will, at its : next meeting, ask the council to record * its Approval or otherwise as to the ad-i ! svisahifity of municipalising the park. ~ THE DISCUSSION". •j In introducing the report, Councillor 7'l»uke, chairman of the committee, said ,'-> he -did not wish to take> up the council's '.time, seeing that decision was to be dei '^ferced for a fortnight. He would, how;\ever, say that the amount of £4550 at ''• Dwhich it was offered seemed to -the oom'•jf^duttQe a most advantageous one. The ''^company was writing off a**um of £1000 ( which they had put away m form of a . isinking fund, and the City CouneiJ would, ;±huß get the advantage. It seemed to "i Councillor Luke a very fair offer indeed. •V'A matter he would ijike to see further "investigated was the proposal that the i--.City Council should purchase the' freehold of the park. The committee had .. ialready made some investigations on this .. head, and they proposed to see' the <; flPublic Trustee further in the matter, after which they would submit a further •report to the council. •l. Councillor. Biss said he would. like. to ;.'have a. little- .time -to consider the raat«ter. - „','". S Councillor "Luke »£ That is, all ,we ask!' V for. . . . The areporfc was adopted" without fury ther consideration. , Councillor fßis§f Bis§ i In the iJ^enij of; pur " acquiring ,tha~psrk,"]could we, cl^trge'for 1 .. Jtdnjisfeipn? It seema. to me to~ b& an >iinportami point. ;$" Councillor Hiridmarsh : It would- be, "the same as the Town Hall. '^3feL^ a X Qr i^?t«d > that, the City. §oUqi-, k.iirwwiis oL opinion .-that they ,■ could, cEarge,*but he would 1 not like, to give an, absolute opinion. He would ( ■considoij' 1 the matter before the next meeting.