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the sale of liquor, worked in conjunction, is the only feasible method of operation. The need for an immediate source of revenue from the sale of liquor is essential to the building up of accommodation to the required standard. The Trust recognizes that the process will be gradual, and that careful financing and wise administration over a lengthy period will be required. The Trust also considers that operations should be commenced with the absolute minimum of delay. Considering the provision of bottle stores and separate bar lounges to be unsuitable for the district, the Trust has two remaining alternatives:— (a) To acquire the existing two-storied brick building containing twelve bedrooms (situated in the centre of Geraldine Township and known as the Crown (Private) Hotel), adding to and renovating the same to a standard which will adequately provide for local and commercial requirements, together with proper facilities for tourists, and travellers on the bus services, all of which stop in Geraldine for varying periods, and which are inadequately catered for at present. (&) To build a new hotel embodying all the above requirements. For a number of reasons, the Trust considers that it should not attempt to embark on the provision of a new hotel at the present juncture. An architectural survey of the Crown Hotel has accordingly been called for, and if this building proves to be structurally sound, and can be brought up to the required standard at a reasonable figure, same will be acquired, and will become the Trust's main project. It is considered that this project would provide for the local, commercial, and tourist requirements of the district for some time to come, and allow the Trust to gauge the potentialities of the district to sustain a larger scheme in the future, building up reserves for that purpose in the meantime. With the taking of the Crown Hotel, a bottle store, and possibly a temporary bar, would be installed, so that immediate revenue could be derived from liquor sales during the alteration period. This scheme will entail the employment of one Hotel Manager. The services of a part-time Secretary will suffice. No General Manager will be required and overhead expenses will thus be kept to a minimum. In all probability, the Crown Hotel project will be adopted as the Trust's main project in the near future. FUTURE POLICY OF THE TRUST Assuming that the Crown Hotel project is proceeded with, the Trust will later survey other areas in the Trust district which it thinks should be considered. It is thought likely that an establishment combining liquor and other facilities may prove to be possible at Orari, to serve the needs of the travelling public on the main south road, and to provide a source of revenue to the Trust. Areas round Rangitata, Arundel, and Peel Forest will also be studied, but no further scheme will be put into operation without careful consideration, and for some time after the main scheme (the provision of adequate licensing and accommodation facilities in the Township of Geraldine) has been got under way., Overall, the Trust is intensely interested in the whole experiment of Trust control. It is determined to apply the best principles for the benefit of its Trust district, and to make what contribution it is able to the conception of Trust control in New Zealand as a whole.

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