LOANS FOR LUXURIES

New Zealand Times, Volume XXXII, Issue 7110, 23 April 1910, Page 7

LOANS FOR LUXURIES

ATTITUDE OP THE STATE ADVANCES BOARD. A GHETTOWN EXAMPLE. . A deputation, from Greytown, comprisin;; the Mayor (Mr D. J. Loasby), and Oouneilldr Trotmau, introduced by Mr \V. C. Buchanan, M.P., interviewed the Prime Minister (Sir Joseph Ward) yesterday in regard to a loan of AtiOOO for a gas supply, which had been refused by tiro State-Guaranteed Advances Board. .Mr Loaeby stated that tho ratepayers were almost unanimous in It'S quirlng a gasworks, and tho borough was in a sound position, having in two years reduced its liabilities by saving ,£670. Its debt was now only ,X«73. The present apology for a street lighting scheme had cost on amount which would pay half the annual charges on a loan for tho gasivorks. An offer had been received from an Auckland firm to provide the whole plant and reticulation, and supervise the running of tho scheme for sir ’months, for JJSOOO. j The Primo Minister assured the do. putation that there was no 'fear about 'the Security, but at the starting of the scheme it was only right that works of a very pressing character should bo given precedence, so the board decided to place loans for electrical and gasworks, municipal theatres, and tramways be. hind the loans required for drainage and water supply, roads and bridges Tho time would come when the board would bo only too glad to consider loans of the kind proposed by Greytown. It would only be a short time when these applications would be granted, but he could not definitely tell the deputation exactly the time. At present there were applications totalling between one-and-a half and two millions, some of these in eluding large requirements for what could bo called conveniences, rather than absolute necessaries. He advised the deputation to put another application before the board six months hence.