MUNICIPAL AFFAIRS.

Taranaki Daily News, Volume XXXXV, Issue 95, 20 April 1903, Page 2

MUNICIPAL AFFAIRS.

TO THE EDITOR. Sib, —Some time ago you stated that there was a general complaint about the Council and ihit the members seeking re-election should give an account of their doi"gs. At that time I was not I intending to ssek re-election, but since I my friends wish otherwise I hav<> I acceded to tht-ir wishes. I desire to , state that I was largely influenced to Jtika this step from the fact of the jCouncil prop-sing to sp3nd .£6OO of the streets improvement vote for diverting the Mangatuku stream. I i considered it an improper diversion of (this vo'e and largely calculated to I break down our whole scheme which was based on a promise " that there would be no increase of rates " when the loans were spent. If the unopened and unmutalled streets are not dealt with, in order to encourage and facilitate buildings goiog on, it will be impossible to keep this promise. However, Councillors Bellringe'-, Carter and myself when we were outvo'ed, git the ma'tor referred to the Health Officer for his report. It is now to band, a»id completely stops the diversion uf the s ream and saves the ctsh for i's original purpose. With reference t > the abattoirs, whatever delay has occurred w is of a financial chiraoter and beyond the control of the Council, and a desire to have our works up-to-dtte. Tdo Acinp-Premur suggested that we should p ocure the amount required for xbattoirs with the other amounts then' about to b ■'■ submitted for the sanction of the ratf payers. This I declined to do, as under the Act we were en'itled to the money at 34 per cent., inclusive of siting fund. With the assistance of Mr E M. Smith, M.H.R., who took the matter in hand, the money has been obtained from the Assuming the total cos 1; to ba .£7OOO this means a saving of £7O per annum in interest, and at the end of 42 years the loan is extingui-hed, making a saving of £2940 in interest and £7OOO of loan, a total of £9940 saved to the ratepayers. Then, again, after an interview with the Mayor of Nelson when at Wellington, I found that ou«plans, which were ex telly liko the Ne'son abattoirs, werf* far fr"m perfect, and thin was co. firmed when Council lor Broiking vii-ited NeVon «n tho occasion of their Jubi'ep, and wastisk-w ovar the works by the officer in charge, hence negotiations with the Agricultural Department, which hwe ended in Mr Gilruth r»cimmeo<!ing alterations in the pkns whk'h wi'l bring our abattoirs up to-dite, and in the op niun of our engineer reduc< the cot by from £3OO !o £SOO I would now wish 'ol st;'.t.' tio ■--■' our authorised loans stand aid the fLaoces of the borough. The Cou-icil ii»s ms vot only raised £40,000 of their £90,000 loan, £29,000 w.is i ..quired to pay ott the old lo n, le ving £II,OOO for various works. "< his transaction to k place at p -r at 4| percent, interest at a cost of onehalf pr cent, commission, and I contend that no borough of the same standing h'S dona better; bu'; with a view to a further test of the question of the disposal of the bilanca of our debentures I placed the matter in the hands of a gentleman of colonial standing now in London, and the lotters whic^ 1 have received clearly iodic \te that our transaction has been a good 0.-.e. While on financial matters I might

bay that our la.-1 yotr's balance sheet nill show that the Council cm bs t'u4d, as our overdraft stood at £2896 after deduc'iug (he amount pai 1 f.r mHchioery on the 31st Match, 1902, and we expeded <o reduce it by the unappropriated balance of £1145, whereat we h ive reluc*d it by £1679, leiving our piemen' overdraft at £1127 it the else of the financial year, a .msition wi.ich, as Onairmw of the tfiuauci C munittee, I feel I c»n refer 0 with pleasure, As to the balance of iur loan cf £50,000, it is not yet raised, and therefore not bearing inerast, but money can be raised at current rates on the security of our deban'ures t'j meet current expenses, or our debentures placed permanently, whi hver course may be considered mo.-.t judicious at any time. With regird tj the waterworks, drainage, and electiic lighting it is in tbe hands of an ougineer of the highest standing, who assurer us tint there is no unneoessiry delay ou his part, and the Council will r.ot relibve him of any of his responsibilities by rushing bim, a course in which, 1 am confident, they will be upheld by the «leotors. With regard to the Henui bi idg*, when the Council undercook its erection the law which compels sdjoining local btdies to contribute to such wot k was nut in force; when it did come into operation our position should hive bam considered. Had the Hutt bridge c»e bten decided, which laid dovn th* ltw in the matter, no doubt it would. However, we are now proceding on right lines, and as we formerly . sked for a less contribution than the i rathe returns would indie its we are entitled to, I think the delay will show that tbe b >rough wi'l suffer no pacuniaty loss thereby. In conclusion, I would again like to impress on all e'ectors thit it is only by a judicious exf enditure of the streets improvement loin that we can expect to meet our engng mants without further rates, and if tbe ovrrdi aft could be paid off during thecuri eotyear, whioh I have everyoonfi I. nee can be done if I am elected, then the first year's in'erest on our £50,000 unraised loan, amounting at 4£ per cant, to £2250, wh'oh we are allowed by la* to pay out of the loan, could be spent pn further s're-t improvements, as that is the only loan which appears short of being able to do the work requi.ed. —I am, etc., ; E, DooKßir.L, Mayor.