HEATHCOTE LOAN.
TO THE EDITOR. Sir,—'l see in the above loam .proposals a sop carefully thrown to each ward of the district, and the only division to withstand the temptation was St Martin's. Now, is it not time for such local bodies to stop in their mad career of wholesale borrowing? With anything approaching careful finance much can be done with the annual rates. Take ;St 'Martin's as an- instance. In one large estate on Colombo Road South concrete channelling was put forward as the inducement. This estate was rated a few years ago at about £SO per acre. It is now very largely subdivided; and built_ on, and with any decent management or fairness the largely increased rates would much more •than pay for the said channelling in a very short time. I can only suppose the increased income is spent elsewhere. Part of the gutter on this-property on the-mam road is in *a disgusting condition, and with the advent of next summer will probably cause
serious results. ■ Rut as the ratepayers have declined to allow £3OOO to be flung about anyhow I suppose they will have to suffer. —I am, etc., GRAVEL-PIT.
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Bibliographic details
Lyttelton Times, Volume CVII, Issue 12850, 24 June 1902, Page 6
Word Count
194HEATHCOTE LOAN. Lyttelton Times, Volume CVII, Issue 12850, 24 June 1902, Page 6
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