MORE "SANDBAGGING.”

Stratford Evening Post, Volume XXXII, Issue 46, 19 February 1912, Page 5

MORE "SANDBAGGING.”

f (To the Editor “Stratford Post.”) !l ’Sir:-—l'-trust that, you will insert the following “Sandbag” for Mr. Masters. Mr. Masters, at his meeting on Friday last, took that opportunity to attack ‘Ratepayer, etc, and made a piteous appeal that Ins character had been assailed, further characterising the writers of those letters as “Sandbaggers. Hie ratepayers of this town have sufficient sense to know that Mr. Masters made the sandbags himself, and that if he gets hurt with one he has no right to anyone’s sympathy. He did not complain that the “sugar-baggers, or, in plain words, the “shareholders, also wrote under noras-de-plumc. 1 have in mv possession all the letters written on' this subject, and I cannot find in one single letter any attack made on Mr. Masters’ charactei. His tactics over this _ matter have given every opening for criticism, so there is really no call for liis licioics. Mr. Masters’ latest “sandbag” is as follows:—“In an interview in November he emphatically replied to the question: ‘What rate of interest do you think it would pay the borough to give if they are to make a profit,’ as follows: ‘Nothing exceeding 4 per cent. On top of that there would be the sinking fund of 1' per cent, to be put aside annually.’ ” At a meeting of the Borough Council a week or so ago Mr. Masters moved the adoption of a report to the effect that £15,000 be borrowed at 4$ per cent., plus £ per cent sinking fund. I ask the ratepayers has Mr. Masters any right to complain if he is “sandbagged,” as he calls it, when he is ready to go directly opposite to his own statements to acquire the concern? Ho distinctly stated it would not pay the borough to exceed 4 per cent., and a few weeks later will give 43 per cent. He also stated in reference to the matter of interest that if the borough can’t get the money at a sufficiently low rate of interest (which he fixes at 4 per cent.) that he certainly would advise the ratepayers not to touch the business. Friday night’s meeting shows how he kept his promise.—I am, etc., RATEPAYER.