CITY FINANCES

Dominion, Volume 14, Issue 176, 21 April 1921, Page 4

CITY FINANCES

! NEED FOR EXTREME CAUTION

LOAN NEGOTIATIONS NOT CONCLUDED COUNCIL INTENDS TO KEEP ITS MEN That the question of finance is at present causing the City Council concern was indicated by the Mayor last night in conversation with a Dominion reporter. “We intend to carry on our ordinary services,” said Mr. Luke. ‘ While there is a necessity for economy) we, as a council, will not contribute to the present unemplovment. It is a diffioult position, but the City Council will keep on all its men.” Mr. Imke stressed the need for the , council to be cautious in its expenditure for the next few months. “In addition ■ to the present considerable overdrafts, ne said, “the council has- to find the sum of £12,500 a month for wages, and £3OOO a month for salaries. These sums will have to be taken from the District Fund. Further, the council will have to raise £35,000 interest. money, up to the end of August. Seeing that the council will not have any revenue from rates until September, the position is one, that has to be considered very seriously. At present, added Mr. Luke, moneys likely to be received were those coming from rents and licenses. In respect of the loan proposals, the Mayor stated that the strike- in England bad. been responsible for dlso rtarasinß the council’s arrangements. AHhouMi negotiations had been opened in England, the money was not yet available, but the negotiations were being on as quickly as possible. rhe oi din arv services of the city will not. be curtailed,” concluded Mr. Luke, but, until money is available, other works will not bo gone on with.