MOUNT SOMERS NEWS

Ashburton Guardian, Volume V, Issue 1424, 4 December 1886, Page 2

MOUNT SOMERS NEWS

(FROM OCR OWN CORRESPONDENT.)

K meeting of persons interested in the development of the mineral resources in the Mount -Somers district to k place on Tuesday, November 30th, in the local library build ng. Mr Foacho, who had convened the meeting, opened buaineea by explaining Ita o’ ject at fall length. There is » cons de able supply of limestone, bullding-a one, and coal to be obtained a few inres from the township, and those present wh . were numerous, were de'ired by the speaker to advocate the construction of a fri mw*y, to b c nnectad with the railway line, but worked by horses. Mr E. F. Wright followed op the convener’s remarks by supplying particular information about the present weekly demand for coal alone, which he put down at more than £SO. After considerable dl-cnssion all present, except two persons, signed a memorial to the County 0 n cil, soliciting their assistance in the matter. The meeting tner> closed. In further explanation of the above, I beg to state that the estimated coat of a tramw -y w-uld be about 13500 If the County 0 >unoil could induce I Government to advance a loan to tha; extent under the *• Government Loans to ’ Local Bodies Act,” the principal and 1 terest at the rate of 5 oer cent would be wip d out in 26 years. Under this scheme, tbe ratepayers of the district are, in esse the pr ject fails, liable to a ra<e amounting to 2$ per cent, on the loan ; but this rate mast not exceed |d in the £ on the value of assessed land. There is very little fear of necessity to trouble the ratepayers with such a rate, as Mr Peaohe’s estate alone would very likely poutr bute more than £3O per annum Tbe traffic from all eouioas would amount to at least 5,000 tons a year; in short, even in the very worst failure, the district wonld not be called upon to cover by a rate more than £9O Other contingent advantages everyone with sense can foresee.