Support for Capital Value Rating

Northland Age, Volume 6, Issue 28, 2 April 1937, Page 9

Support for Capital Value Rating

Resolutions For Power Board Candidates f Convened by the Waimate NorthOhaeawai branch of the Farmers' Union, a representative meeting of those interested in the proposed formation of the Bay of Islands Power District, was held last week at Ohaeawai when points of interest were discussed. Mr. H. K. Hatrick presided. The meeting commenced with the moving of a resolution by Mr. E. Walker, seconded by Mr. H. H. Mountain, that capital value of properties in the proposed Bay of Islands power district for rating purposes be cited as security of any loan. Speaking of the resolution Mr. Walker c intended the bulk of the loan would be carried by rural farmers, and that unless established on a capital-value rating, the disabilities on this factor would be too great. Unless the farmers' got behind the scheme and fostered the movement, the scheme would not be possible. He was certain a rate would not bo necessary. He said it was estimated the cost of floating the scheme would be a quarter of a million pounds and that as the farmer would have to bear the burden, capital value rating should cover all the disadvantages. The resolution was carried unanimously, A second resolution was moved by Mr, S. Pennefather, seconded by Mr. R. Baldv/in, which stated that the cost of reticulation in the proposed area be on a co-operative basis, such reticulation to be carried to sheds and houses within, say, one mile of the main line. Mr. Bates considered the resolution was quite a fair one as there was no reason why closely-settled areas should get greater benefits than those in scattered areas. There was very little discussion ; the resolution being again carried unanimously. It was decided to forward these two resolutions to candidates at the forthcoming election. “It seems to me that the present system of small farms has its handicaps in that too many of the farmers have too small areas. The individual is not able to meet losses incurred by adverse seasonal conditions and variations of the market. I think it would be better to give men holdings of 300 acres on a co-operative farming system so that the group would share the profits or losses as the case might be, in the varying circumstances of farming. In any case, I am going to interview the Minister of Lands, the Hon. F. Langstone, and suggest to him that the Government should give serious consideration to the question of encouraging co-opera-tive farming on certain areas instead of individual farms.”—Mr. T. H. Combs, M.P. for Lytteltoq. * * * * Bolivia accounts for one fourth of the world’s annual supply of tin