Drainage Board

Star (Christchurch), Issue 5616, 12 May 1886, Page 4

Drainage Board

• STATE OF THE FUNDS. SPECIAL LEGISLATION EEQUIEED. An ordinary meeting of the Christchurch District Drainage Board was held last night ; present :— M. F. de C.;Malet (Chairman), and Messra Vincent, Manning, Hewitt, Barns, Hosking and Ehodes. An apology was made for Mr Malcolm's absence. THB BECENT BAIN. The Engineer reported that though 5| inches of rain fell during April 28 and 29 in 36 hours, no damage had been done to the Board's worke. treasurer's REPORT. The Secretary and Treasurer reported that £212 14s had been received since the last meeting, and £439 17s lOd had been expended. The amount of 1885 rate collected was £18,509 19s 2d and £793 19s 7d were outstanding. The Bank overdraft was £5731 13s 4d. He had visited Wellington, and Government had consented to the sale of the Drainage Reserves in Christchurch, and to an exchange of land with Messrs C. Cuff and E. J. Palmer. As to the Board's debt, Sir Julius Yogel had stated that if particulars, re floating the loan, were sent to him, he would dee if anything could be done in the way of its redemption, and thus ease the ratepayera of a portion of the heavy interest now being paid. The last matters were referred to the Finance Committee. BANK OVBBDBAFT. The Chairman said that there was a letter from the Bank, which he thought sh«uld be taken in Committee. Mr Vincent certainly thought that the letter Bhould be read in the open Board, but if so, the previous correspondence on the same subject ahould also be read. A motion that the Board should go into Committee was proposed, also an amendment that the letter should be read in the open Board, and the amendment was carried. The following was then read .* — From the Bank of New Zealand, as follows : — " I am in receipt of your letter of even date, enclosing cheque for £6135, amount of interest due by your Board in London on June 30, and I would beg to return you the cheque herewith, as I cannot pay the amount until I receive from your Board a guarantee that they are to apply to Government for additional -tating power, or to take such other steps aB will enable them to greatly reduce the present overdraft. — Yours, &c, " H. A. Watt, Manager." At the request of Mr Vincent, the following letter from the Bank was read : — " April 2. " Sir, — Beferring to the interest on your Board's debentures, due in London on June 30 next, I beg to advise that, should the Board wish to remit at 30 dayß' sight to pay same, it will be necessary to do so by tho direct mail on May 8 ; but should your Board desire to forward funds by draft on demand, it will be necessary to send by the direct steamer, leaving May 6. For your guidance, you will please find subjoined particulars of amount required in either case, viz. : — £ Half-year's interest on £200,000, at 6 >»er cent 6000 Commission for paying same in London, at \ per cent 30 Exchange on 30 days' sight draft, at H per cent „ 75 6105 Half-year's interest as above 6000 Commission 30 Exchange on demand draft, at If per cent ... 105 £6135 " I have, &c, " H. A. Watt." As also the following reply to the above : — " May 4. "To the Manager of the Bank of New Zoaland. " Sir, — I have the honour to acknowledge receipt of your letter of May 2, advising as to method of transferring the Board's interest to London, due there on June 30 prox. With regard to the latter method (draft on demand), you say it will be necessary to forward by direct steamer leaving on May 6. On enquiry, I find the next mail by direct steamer is on June 3. I therefore forward cheque as under, which will permit of the money being forwarded by the Brindisi mail, closing here at 7 30 p.m. to-morrow (May 5) : — Half-year's interest on £200,000, at 6 per cent 6000 Jommisaiou for payment, iv London 30 Exchange on demand, at 1 J per cent 105 £6135 " I have, &c, "Edwik Cuthbert, " Secretary and Treasurer." The Chairman said that certain communications had taken place between the Bank and the Board, through their Chair- ! man and the Chairman of the Finance Comj mittee, and he thought it right to say that j he did not approve of the correspondence i being published. I Messrs Hosking, Barns and Vincent j spoke in justification of their desire to have I the correspondence published. There were | rumours abroad, and the public had a right ta know the real facts. j On the motion of Mr Vincent, seconded , by Mr Barns, the Board went into Com- ! mittee, and, on resuming, the following resolution was reported and agreed to — , "That the solicitors to the Board be requested to take the necessary steps for obtaining the sanction of Parliament to allow the Board to anticipate its revenue by one year, as in the case of Municipal Corporations." ; Mr Hosking moved — "That the making the district into ono or more sub-districts, and the resolution re the south side of the Heathcote River, should be embodied in the same Bill." . This was agreed to. SMALL-rOX HOSPITAL. ! Mr Manning moved — " That the Hospital and Charitable Aid Board be requested to take ovor from this Board the Small-pox hospital at the Sandhills." He thought that the Drainage Board should be recouped the cost. Mr Hosking seconded the motion, provided that the cost should be refunded. After a slight discußßion, the resolutioa was carried. WOBKB COMMITTEE. The Works Committeo reported having accepted Mr Kedpath'B tender for the supply of Brockfleld coal, at 18s Gd per ton. They had accepted the offer of Mr Armitage to Bink two artesian wells. ' ACCOUNTS. Account s to the amount of £189 17s lOd were passed for payment. SPECIAL MEETING. The Board resolved to l.old a --peeial meeting on Friday next, at 4 p.m., for the purpose of striking a rate.

1885 BATE. The following statement shows amount of 1885 rates collected in each district to date :— i

Bate Out- ' Digtiict Leried. Collected. standing. £ £ £ Chrietchureh... 12,135 12,084 51 Sjdenbam ... 1,785 1,670 115 BtAlbans „. 1,392 1,161 231 Linwood ... 919 619 Nil Woolaton ... 153 153 Nil Atou 1,027 943 85 Heathcote ... 719 456 26J Kiccarton ... 839 839 A T t7 t^preydon ... 410 895 15 The Board roße at 10 p.m.