THE MAYORAL ELECTION.

Evening Star, Issue 4187, 28 July 1876, Page 4

THE MAYORAL ELECTION.

To the Editor.

Sra, —Your correspondent " Citizen," in yesterday's issue, in recounting the many things that have, in his opinion, been accomplished by Mr Reeves, makes ono or two mistakes which, in justice to other parties concerned, should be corrected. For instance, he says "that through the financial ability-of Mr Reeves the credit of the City was saved in tho matter of the completion of the purchase of the Waterworks." This iB riot so, as Mr Reeves had nothing whatever directly to do with it. The true facts of the case are as follows : After the purchase of the works were completed, tho Finance Committee of the Council found that their bankers were unwilling to grant them the amount of accommodation they required—viz., about L 40,000. Other "banks were tried, but without avail, and tho advisability of sending the Mayor t) Melbourne to negotiate tho matter was seriously con sidered. . At this juncture Cr. Isaac suggested to myself that tho Bank of New Zealand might furnish tho accommodation required, and proposed that we should •wait upon the manager about it. I at tirsfc refused, thinking that fcuo sanction of the Financo Committee should bo first obtained, but ultimately consented. Wo Accordingly had an interview with Mr Roberta,, and our proposal was so favorably entertained-that wo at onco got the Mayor to call of tho Finance Committee, at which wo stated what we had done, and then it was resolved that a deputation from the committee Should wait officially on Mr Roberts, tho result of which was t'at the Bank agreed to takeover the account. .After this further com plications arose, which weu only finally settled on the night previous to !

the ..day on which, the money -was to be 1 paid to the company,. and to effect this a f deputation, consii.ting of the Mayor/ 'fpi and myself, waited upon Mr Roberts," at his own residence, when'that gentleman was confined to--hia'bed'through illness. To Cr Isaacis due tho. credit, if any, 'of tho inception of the idea led to such happy results, but throughout the Vfholc business' Mr Reeves had nothing, as' far'as I know, to do with it, and was not even a member,-of-the* FifiancoOornrnitiieo. There are other' mistakes in the letter of your correspondent, i which are due doubtless to-, tiis"'' zeal for- his friend -Mr Re'eye#,fcut wbich.need no comment just now.'-'- ! ■ ~' i The remarks referring to myself I.shall not allude to.—l am, &c,

■.•.!..'' U. S.-Fisn, Jtn^ Du&edin, July 28.

To the Editor.

Sir, —In your issue of last night appears a letter signed " Citizen," in which the writer states ,that /'through Mr Reeves's financial ability the credit of tho City was saved in the matter of the completion of. the Waterworks." JNow, as I was tho person who opened up the negotiation with tho Bank of New Zealand for borrowing the money for the purchase of the Waterworks, and which' ended so successfully; in:-justice to myself I ask yon to bo kind eiiO'igh'tS publish the following official correspondence.— I am, &c,' .-..-. .-. Barnaijd Isaac.Dnnedin, July 28. •■,:.". - ,: City Council Chambers, Duiiwlin, June 26, ls7u. To Councillor Isnnc. Sir,—lu. reply to your note of date 24;h inst., I beg herewith t» baud you a copy of the first letter from the Council to the Maunder of the Bank of New Zealand. The letter wa3 dated 6th November, 1874. —I have, &c, J. M. Massey, Town Clerk.

City Counoil Chambers, Dunedin) November 6,1874. The Manager Bank of New Zealand, Dunedia. Sir,-—Befeirinßto a conversation which Councillors Fish au,d, Isaac have had with you this morning, I beg herewith to enclose, at your request, .copies of the Mnnicipal.Corporatious Waterworks Act, 1.-72, a d the Dunedin waterworks Act, 1874. The latter Act soin'ewhat-exttinds the jprovi-lonsof.the former Act, and transfers to the Corporation the Pnnodin Waterworks Company's powers and privileges. In order to secure the repayment of the principal, ru d duo payment of the interest on debeuturcs.'seetion 29 of the Act of 1872 empowers the 'Council to malic an annually recurring special rate of flfieenpeme in tho.jß upon all rateable property in the City. This rnte would at present produce about LIO.OOO pir annum. The form of debonture is recited in the schedule to the Act of 1872. The bonds to b- issued by the Corporation for purohase. of the Company's works are to bear ope r cent. interest.—l have, &c , (Signed) J. M Masset, Town Clerk.