AVOIDING LOANS

Evening Post, Volume CXXXVII, Issue 116, 18 May 1944, Page 4

AVOIDING LOANS

EASTBOURNE'S PROGRESS Mr. E. W. Wise, who is offering himself for re-election to the Mayoralty of Eastbourne, told a meeting of electors that his policy was the same as he had followed for the past 11 years. Progress on non-borrowing lines had been successful, and he saw no reason to doubt that it would be equally successful in the future. When he came into office in 1933, said Mr. Wise, the ferry service showed a loss of £7000 a year, of which £5000, raised from the rates, had to go in partial liquidation. The bus department showed a profit of only £200 a year, while the newly-installed water arid sewerage system cost £4000 a year. In 1933 the rates collected were £10,500, and because of water and drainage costs and increased hospital levy, and in spite of a reduction .of £ 1000 a year through loan conversion, a further £4500 had to be found in 1934; yet in 1944, with an increased hospital levy of £1500 and a cost of £1200 for water, the rates raised were only £13,200, which clearly showed that there had been no increase in the general account. It had ben said that Eastbourne was heavily rated, but rates for a £250 section in Lower Hutt were £13 15s with a 33 per cent, rebate, and in Eastbourne were £13 7s 5d with a 5 per cent, rebate. The council had prepared a full scheme, to cost £17,000, for stormwater drainage, which it was proposed to complete in instalments, without raising a loan. The construction of sealed footpaths and roads would follow, and the council had already begun the sealing of streets. The foreshore protection work would be continued. All these would proceed when labour and material were available. The ferry service, which showed a loss of £7000 in 1933, showed, for the first time in 20 years, a profit in 1943. The bus service had been the salvation of the district. At the end of last year it showed a profit of £7000, after allowing £3500 for depreciation. 3 At present the loan indebtedness had been reduced to £70,000, and provided no further loans were raised the borough would be debt-free in 14 years. Mr. Wise paid a high tribute to the members of his late council, to the town clerk and general manager (Mr. Bishop), and to all the members of the staff, and'said he would not have been able to carry out his duties without the assistance of his wife. A vote of thanks and confidence in Mr. Wise was carried unanimously and with enthusiasm by the meeting, which was held in the Theatre Royal and presided over by Mr. H. W. Shortt.