POOLING OF LOANS.

Wanganui Herald, Volume XLVIII, Issue 14044, 26 July 1913, Page 3

POOLING OF LOANS.

ST. JOHN’S' DRUpS ; THE PROPOSAL. BOROUaiI COUNCIL CIIITKTSBD. A me-.'ting of the St. Joliu-s. liiitepavers’ Association was. hold Just night at vvhich the pooling of the loans of* the .811 biirbk: of the town were discussed, and at (imes tile discussion ranged rather high. The meeting was' well attended. . - Mr J. 11. Unmet said that tlie meeting' was convened as tile outcome of St s John s lJl.lt to be put oa an equitable looting with the Borough and oilier suburbs belore pooling tlieir loans, lie went on to,, say taat a deputation from the executive; had waited upon the Council v.Jio promised to pot the suburb on an equal footing witn the other suburbs. In reply to a resolution from Inc Association, tnu Borough Council lot-warded the following lethave to acknowledge receipt of yours of the 13th. iiisl,, therein setting oat the terms''of 'the'resolution'passed by your Assoeiaiiou. in reply tuereco, i have to state that the Council has passed Uie ; following rfc'&mnt’ioir:—That in the next general .purposes loan to be raised over iiio whom of the fiorough the sum of •ilodOU be added thereto tor requirements' wiUiin Mt. John's Hill, to be expended within live years as tin; necessity arises.' It. was understood when your Association conferred with n special committee that a resolution, as above would bo accepted, and I lie Council is not prepared to pass a special order or promote a Bill coiiurmhig of landing Ihe resolution already passed, afr Burnet thought tuc letter was straightforward and business-like, and one wnieli i satislied him. I .vir Burgess thought that the resolution 1 was not binding upon any future Conn- 1 eii, and although the present Council's intentions were of the best, they had no guarantee Inal a future council would uol lain the resolution down. • -Mr 11. Burse)' said llmt opposition was lamed to the letter when il was read lo the Association, because it-did not udeqnatcly secure the ATihtli) for the snburli, as it was merely a resolution. lie I nought, that some of the ratepayers wi .e 'not, prepared lo (rust the Council. He moved “Thai- this -meet ing of ratepayer* oi St. John's hill agree to pool its loans with the .Borough, on condition that the lesolntion pasueii by the Council on July Jul be adhered to.” in seconding the motion, Mr ,T. Williams, who was. one of the deputation which waited upon the Council, said that he was well- satislied with the Way the Council had treated them, and thought they had done iniieh better than was expected. i In reply to questions, the Mayor said Hi at die Council was anxious to help the ratepayers. The resolution was passed to safeguard the Council and he regarded it us binding upon any Council. The Connell was advised not to include the Jt.VJUO in die Booling Bill because of its large size. If the money was raised by the Council, attached to a- general purposes loan it would not cost nearly so mucli as it would if raised by St. John’s Hill ratepayers. Mr Higgiiibottom said that the feeling, was that the £3OOO would be granted for . maintenance and other works of necessity, not £3 JIOO in excess of other votes. The Mayor replied that the iioOOO was given to equalise tiic district. Mr L'iggiiibottom then moved the follow ing amendment: —That the pooling | proposal be dropped, and that -68.00U ho raised for tramway or other purposes, and . 'that the pooling be considered next year.’ 1 Mr Muidoeli seconded pro forma. Considerable discussion ensued on the amendment, and on a show of I minis being called the amendment, was declared carried, and being put as the motion, was carried on the voices.