SEQUEL TO MASTERTON FIRE.

Dominion, Volume 2, Issue 513, 21 May 1909, Page 6

SEQUEL TO MASTERTON FIRE.

A QUESTION OF REBUILDING. (DI TBLEaBAPn—SPECIAL COttEESPONDBNI.) '■- Masterton, May 20. A special meeting of the Masterton' Trußt Lands Trust was held to-day, tho business being to discuss, tho question: of rebuilding the Trust's premises in Queen Street, , destroyed by fire on Wednesday morning. There wore present:—Messrs. T. B. Mitchell (in the chair), C. E. Daniell, B. Krahageh, E. G. Eton, H. C. Robinson, and D. Caselberg. The ohairman stated that one of the insurance agents had not arrived, and it meant that the trustees were thus hampered for a time in their actions. It. seemed'that tho leases could all be terminated. Mr. Robinson,said that it was a question whether all the leases could he terminated. There was a doubt about the Cafe premises, and tho trustees should take' an opinion on ti-\ .-.■■. ■\- , , / Mr. Robinson suggested that, as tho'trris-. tt_. ...... uXy biiouiu'let a portion, where totaHoss had resulted, on tho Glasgow- system. He thought that tho trustees should.not risk building on its own land, and further cost would bo a burden on tho funds for years to come. Had the ground 'been leased on that system the present fire would not have affected the Trust at all.: The. power which ho referred to was contained in the Public Bodies Powers Act. The chairman stated that ho was in favour of tho. Trust building on 'its own behalf. Mr. Daniell agreed with 'the chairman that the Trust should build for'itself. Tho Trust was there to do the best for itself, and experience had shown that, in tho past, tha Trust's own buildings had proved good investments. , \; V Mr. Jackson thought it premature to deal with one section of tho land before it was known how the Trust stood in regard to the whole block. He strongly favoured waiting to see what amount of money-would be forthcoming by way of insurance oh the old buildings, \ ■ . , Mr. Eton was in. favour of rebuilding by : the Trust as soon as possible. "Where the Trust had tenants on tho spot ready to take tho premises it would bo ill-advised hot to consider tho offers. Mr- Jackson, moved that MessTsr- Mitchell Daniell, and Casolberg adjust the matter witb V the insurance company. \ Tho motion was carried unanimously ■ Mr., Robinson handed in notice of motion tor a special meeting on Saturday as follows:—"That the Trust affirms as a nriiA ciplo that it should lot its lands at eround' rentals upon leases, with rights of renewal at private valuation, and not expend moneys in the erection of its own buildings upon the ground; and that only by ground rental can a steady income be assured."