The Patea County Press, (With which is incorporated The Patea Mail.) "Be Just and Fear Not." FRIDAY AUGUST 2nd 1895. AN OPPORTUNITY.

Patea Mail, Volume VIII, Issue 91, 2 August 1895, Page 2

The Patea County Press, (With which is incorporated The Patea Mail.) "Be Just and Fear Not." FRIDAY AUGUST 2nd 1895. AN OPPORTUNITY.

It is generally known that Mr Cowern, of this town, leaves during the present month on a business trip to the old country, and the occasion seems opportune for having the Patea district brought prominently before the business people of England, either as a home for immigrants, a fiell for speculation, or in business connection in the meat and dairy interests. It goes without saying that there is no f man in town or district more intimately acquainted with land and stock values, the general features of the country, and its stock-carrying or crop-hearing capacity than is Mr Cowern. His long residence hero, and wide business experience as a land agent, on a huge scale, and an auctioneer, extending over two decades, has necessarily given him an education in : those directions equalled by few, if any, exceeded certainly by none. On this account, therefore, the fullest advantage should be taken of Mr Cowern’s impending visit by placing him in the best possible position to meet syndicates, company managers, or individuals, as the cn.se may be, on the best terms as an accredited agent. During Mr Cowe.n’s stay in England bis business will throw him amongst business men of the first “ jjiugmtude, anti by tliat ftt tbe

I head of business channels which ramify * throughout the length and breadth of the land. We are not in Mr Cowern’s oonfi dence as to his immediate reasons for going home, but having known him intimately for some fourteen years, we know well that it is no small matter that would induce him to leave his extensive business here for a period of six months even to visit the old country ; and it is on account of this knowledge that we recommend the most being made of the opportunity. Although perhaps no direct business may accrue, it would give distinct prominence to the borough and district if Mr Cowern were accredited by the Borough and County Councils and Harbour Board. Under such a position Mr Cowern would be able to make enquiries as to loans for either borough or Harbour Board should such become necessary; at present the borough pays five per cent interest on its loan, and this without providing any sinking fund, and there is no doubt Mr Cowern will constantly be in contact with men who would be very willing to bold our debentures—knowing the absolute security of the special rate—at four per cent, or even less, which would enable the borough to provide a one percent sinking fund without making any additional charge on the borough funds, or in any way increasing the burthen of the ratepayers ; and surely providing for the

ultimate extinction, of the debt without increasing the burthen of the ratepayers, is, of itself, of sufficient importance to secure the careful consideration of our city fathers. The same may be said of the Harbour Board, only with a different object. In that case it is not that the repayment of the debt is hot provided for, but that with the present immense growth of trade to the port, some provision for extension of facilities and admittance of larger boats will soon become necessary, and to wait for the present loan to be extinguished before taking steps in that direction may at any time become a very suicidal policy ; and as under the late Act passed by the Government practically no security can be given for any further loan until the present one is repaid, it would be necessary in such circumstances to borrow the necessary amount to liquidate the present loan, as well as construct the proposed works, together an amount which could well be arranged direct with the English capitalist, when the present charges would provide for a very much larger sum than that now owing by the Board. Wo are not, of course, advocating an immediate loan for extending works, but merely recommending that advantage be taken of the present opportunity for so bringing the matter fonvard as to deprive ihe negotiations of all difficulties when the time arrives for taking action, and so, by having matters in proper training, avoid delay at a time when prompitude is of first importance. We commend the subject to toe earnest consideration of the governing bodies interested.