DEFUNCT RIVER BOARD.

New Zealand Herald, Volume LXVII, Issue 20554, 3 May 1930, Page 9

DEFUNCT RIVER BOARD.

LIQUIDATING THE DEBTS.

STATE ASSISTANCE SOUGHT.

LIABILITIES TOTAL £II,OOO. []lY TELEGRAPH. —OWN CORTIESPONDEKT. ] PUKEKOHE, Friday. The efforts being made to liquidate the liabilities of the defunct Waikato River Board were explained to the Minister of Public Works, the lion. E. A. Ransom, by Mr. J. N. Massey, M.P., chairman of the Franklin County Council, to-day. Mr. Massey stated that the liabilities of the board now amounted to approximately £II,OOO. With a tentative agreement by the creditor institutions to waivo their claims for arrears of interest, application was now being made by the Franklin County Council to the Government for a grant, of £3780, representing the portion of tho liability that would rest on tho D class land. The Government had taken part in tho River Board's scheme and was therefore a partner. It was thus felt, said Mr. Massey, that the Government should shoulder some of tho responsibility in regard to the liabilities. Ratepayers in the D class had had no vote in tho raising of loans by tho board and for this reason, too, it was felt that the request for the Government grant was justified. Two previous A»inisters had recognised tho justice of this claim and the Cabinet of that day had agreed to make the grant. Mr. Massey asked for Mr. Ransom's assistance in the matter. A Government grant would assist in paving the way for taking advantage of the creditor institutions' off ir of remission of interest and leave a b ilance of some £SOOO to be borne by the. ratepayers. The Minister said he would bo pleased to go into the matter.