BOROUGH IMPROVEMENTS

Gisborne Times, Volume VIII, Issue 691, 10 December 1902, Page 2

BOROUGH IMPROVEMENTS

Xu CII AN CL uF FLOATING LOAN.

I'ISC USsIuX AT COUNCIL Mb KTiXG.

A: F.n : the JC\.ui:cii 'I I of tiic probau:.i:y .■: r i . r: ?.:■ h.,ix ugh i:u- ■■:!,. :/. c i:.: lip !ui ■ )■'. : :.i : ■ p .; in iv- • T ;; :! : - .. ■ .4 - w.i~ - ■. .. . v. . dr- ■ it. Ito itp r. .0 the G, -.moi: tin/. rJpukia-i: .0 iii it i: v,not thought udvi- iVe u -tp-irate the .CIO.OOO for road works from the main loan." The- M -vor referred to the ditSeultv of getting money at the present time at the rate of 4 per cent. Cr Wltinray said that there was no hurry in regard to tiic loan proposals. Cr Miller did nut agree with Cr Wltinray and one or two others that the Council could wait. They .had all been very sincere on the question of getting water and drainage some weeks back. The Mayor: We are just as sincere now ; the trouble is that we cannot get the

money. Cr .Miller : Jiut you will not give another naif per cent. You will not get the iotui at 4 per cent., even by waiting six months, and the members of the Committee ttnow that well enough. The only thing to do is to call another meeting and reconsider the question. The Mayor: The matter has been gone into by the committee. Cr Miller: 1 move that a spee'ial meeting of the Council be called to consider the question. The Mayor: You had better propose the adoption of the reporter Miller: There is nothing to adopt. Cr Mason: I will second Cr Miller's resolution. The report of the Finance Committee was adopted, on the motion of Cr Whinray, after which Cr Miller moved his resolution,

Cr Bright proposed as an amendment that, the business of the special meeting should be coniiiied to considering the question of the rate of interest, only, lie did not wish to see the whole thing dug out, and septic tanks and WainiaLi water supplies again introd need. Cr Ljsn.tr : You might as well as have no meeting at all. (Laughter.) Or Uliuuav : I think that, that Kills the whole show. Cr Miller : Now weave getting at, the real motives of the opposit ion. Cr Wltinray : I am like Mieawber ; lam very sanguine. (Laughter.) I am waiting anxiously in the hope that something belter will turn up. 1 should he sorry to see the discussion limited to the rate of interest, that weare prepared to pat for the loan. 1 feel sanguine that the recent sanitary appliances that have been brought under bur notice will enable us io do away with the drainage scheme that has been propounded, and we shall he able to save something like Ibid,mil). This you must admit is a, matter of great consideration to the Council. There is no reason why the whole subject should not he re-opened for discussion. Cont inning., Cr Wlnnray said that, although the poll was carried by a huge majority, the whole subject of water and drainage was shrouded with doubt and ditlieulty. lie was very hopeful, and he was waiting for something to turn up. Or Miller : I have been waiting for Iwenty tears to get, a hath. (Laughter..)

CM, .Jones said that they had threshed out, the subject over and over again, and lie did not desire to see it. reopened. They would never get, the io ;l n it they were always haggling over it, and bringing up these things time after time. He said that they had 'cry carefully gone into the question as to the maximum amount- that cotiid he borne in the way of interest., and he was satislied to follow the aclviec of (lie Fmancc Conmiilt.ee and wait a. little longer. The experience of the push made him confident’ that literate of interest, would come dovu. Cr Lysnar pointed out that the revenue of the Council from rates was Wimki, and they had already in the loan proposals, provided that the amount should be increased by MSUOO. Yet, there were some members on the Council who proposed to raise the amount still higher. It was beyond a breaking point already, and he was strenuously opposed to a further lir-

| crease. Or Miller: Yon do not want water. Or Lysnar : Or Miller lias no right to make the statement, that I do not want water. I want to see a proper scheme suggested. The Mayor: Order gentlemen ; we must have no talking across the table. Mr Lysnar: It is impossible for the Council to jump the rates up double. Let us go back and consider the matter on its merits and get the money. As it is you double the rates. You want to make tho rates JE6.T22, as against £3529. People are already sick of paying rates, and when you get this on your shoulder it will make matters ten times worse. We shall have to go in ior a cheaper scheme. Cr Wliinray: I shall have to get a divining rod. Cr Lysnar: As this Council is formed a divining rod is useless, Cr Wliinray. Cr Bright said that he purposed voting against the motion, on the ground that there was no new matter to be brought up. The ratepayers had given their decision in a very pronounced manner, and there was nothing new before tho Council. Two courses were opeu to them. They could either wait and see tho probable course of the money market, or go to the ratepayers : again and ask them to consent to pay more for the loan. Cr Hepburn said that he would vote against the motion. lie considered that ample time had been spent by the Council ; in discussing the proposals, and they should wait a reasonable time to see if they could not get the money. The Mayor said that some members seemed to doubt his sincerity, but he faileltosee what purpose could be obtained by reopening the whole question. If Councillors were in a hurry to proceed with the work, they could borrow the sum of £20,000 at a higher rate of interest, and make it a charge on the loan when raised. He thought that when affairs were settled in South Africa the money would, be obtained at 4 per cent. They had started the loan proposals at a bad time. Had they gone in for the loan two years earlier, no trouble would have been experienced in getting the money. As it was, they would have to bide their time and take the first opportunity of tioating a loan. He was perfectly satisfied with the Engineer’s statement in regard to the loan proposals. A few days ago, he had visited Waihirere, and there was a splendid tlow of water —more than sufficient for all their requirements. He was of opinion that the work should be done as rapidly as possible, but at thcsarue time the cost must be reasonable. He would sooner wait a year than rush the matter, and have to pay 5 per cent. Cr Miller contended that the Finance Committee made no suggestion ; neither aid they ask the Council to wait. They simply told members that there was no possible chance of getting the money. The Mayer had taken exception to him (Cr Miller doubting his sincerity, but His Worship had a peculiar way of showing his sincerity. Unless the Mayor was urged on he did not seem to do much in regard to the loan proposals. He fCr Miilen was disappointed with the- FinanceCommittee. They never appeared to get together, and they had notuing to recommend. He could” not pay attention to Crs Whim-ay and Lysnar, because they did not want water. Cr Lysnar: We do not say so. Cr Miller: Reading between the lines, I should say that they do not wan: water. Cr Whinray : We do not want anything else but water, i Laughter, i After further discussion, the resolution was put to the meeting and lost, Cr Miller alone supporting it.