KARORI LOAN POLL.

Dominion, Volume 9, Issue 2758, 29 April 1916, Page 6

KARORI LOAN POLL.

Sir, —Though the terms of tie pro» posed loan lor drainage and water for a portion of Karori are probably the, most extraordinary thathave ever been submitted to a poll, 1 wish to limit myself to two points that alone' warrant the rejection of the loan next week. First, the rate pledged for the . loan is more.than double the pledged rate for the Northland loan for the same' purposes. The whole of the Karori rate is sure to be called upon, because the engineer's estimates show that'there is only a small margin out of - the £29,000 —less than the rise in the cost of labour and material since the estimates were made. In addition, in Karori we have always had to raise an "after-thought" loan to finish loan works. We have no asset like Northland has in the rich Melroso area, whose water rate pays nearly all Northland's water loan rate. Those interested in pushing the loan keep pointing to this reduction in Northland's loan rate as an example of what will happen in Karori, though they know quite well that the small area of 300 acres in Karori has no such possible relief. It can only he saved in loan ruts what it pays in water rate I The extra penny, rate for upkeep, etc., is sure to be called also for the same reason.' In all we would have to pay about gd. in the £, thus doubling our total rate. [ My second objection is to the extraordinary proposal to pay the Evelyn Syndicate out. of .the loan for drains they put in when subdividing their. land for sale. They did this of their own accord. It was to get a higher price for their land. It was a speculation or investment. Tho 'results of the 6ale are the only return they have any right to look for. We note that if any otTier syndicate subdivides land after drainage is installed in the borough, that syndicate would have to' put in drainage at its own cost. Yet we are asked to pay the Evelyn Syndicate. How did. such -a peculiar privilege come to be included in the Bill? Those interested'in the loan try to scare us from throwing it out, by showing that we must then pay the cost of the poll. They omit to state that if we did carry the loan and load' ourselves with double rates, we would still have to pay the cost of the /poll. We shall choose the lesser evil, aad regard the cost of the poll as a kind of insurance against the greater evil.—< I am, eto.. WIDEAWAKE.