THAMES HARBOUR

New Zealand Herald, Volume LXXI, Issue 21921, 3 October 1934, Page 14

THAMES HARBOUR

AFFAIRS OF TIIE BOARD COLLECTION OF RATES NEARLY 70 PER CENT OF TOTAL [uv TELEGItAPH —OWN CORRESPONDENT] THAMES, Tuesday The secretary of the Thames Harbour Board reported at a meeting of the board to-night that the collection of rates for the year ended September 30 was 68.85 per cent of the total levied. In addition £1039 of arrears of rates had been Col lee ted in the period. The secretary stated that the amount collected was sufficient to meet interest charges to date and all arrears of interest, but might be insufficient to meet the total sinking funds payments. 'The board recently asked the Harbour Boards' Association for an opinion regarding special rates payable on a section of land in Pollen Street purchased four years ago by the Post and Telegraph Department as a site for the new post office, it had previously been privately owned. The chief postmaster at Thainos wrote stating that his department refused to recognise any liability for borough rates on the section. The association's legal opinion was that the section was liable for rates. The special rate was levied when the land was privately owned and it was given as security for a loan to certain debenture-holders and neither in law nor in equity was it just oxlawful .that the debenture-holders' security should be unpaired or diminished because the Crown purchased the land. It was considered that section 123 of the Local Bodies' Loans Act. 1926, applied. The board decided to notify the department that it was taking action to collect the rates which were demanded from the board by the Borough Council. Mining on Foreshore A deputation waited on the board with reference to a prospecting licence on its foreshore area. It was stated that £750 had been spent on tests and assays over tho area and the company had up to £25,000 now assured to take up and work tho ground. The board, in its agreement with the owner, had stipulated a 3 per cent royalty on all gold won over £SOOO. It was intended that a plant to treat 100 tons dailv should be erected and later enlarged to a capacity of 400 tons daily. It was asked that the royalty be reduced to 1£ per cent. The matter was discussed at length and finally the board decided that, conditional to active work being commenced within 12 months, the royalty be reduced to 1J per cent, with exemption on the first £SOOO won'. The board has been granted a subsidy on relief labour for the drawing of the piles of the old portion of Burke Street Wharf, which lies seaward of the new wharf and which for tome time has been a menace to shipping. In reference to the establishment of an aerodrome at Thames the board decided to join with the Thames Borough and Thames County in the establishment of the aerodrome and to lease the land asked for at a peppercorn rental. The board decided to restore to the secretary the cut made in his salary last year. Interest on Debentures Advice was received from the Minister of Internal Affairs that the Government was unwilling to put further legislation through the House legalising the lower rate of interest payable to debenture-holders and preventing the appointment of a receiver. It was understood that the Treasury objected to this "legislation owing to the deben-ture-holders not being unanimous in their decision. Considerable correspondence had passed between the secretary of the Board and Wellington officials. It appears that the bone of contention was the action of the board in not converting its loans, which involved the payment of a premium of over a position the board could not face. The board considered position was most serious and the chairman was authorised to go to Wellington in an endeavour to have the necessary legislation put through the House before it adjourns. The action of the treasury was held to bo inconsistent with its previous actions over the board a affairs.