EARTHQUAKE LOANS

Hawke's Bay Herald-Tribune, Volume 81, Issue 55, 27 November 1937, Page 6

EARTHQUAKE LOANS

Ministers Prepared lo Meet Local Bodies POSSIBLE CONFERENCE Loeal bodies concerned with the repayment of earthquake rehabilitation lcans have been advised by Messrs E. L. Cullen, W. E. B&rnard and H. M. Christie, M.P.'s, regarding their conference with the Prime Minister, the Rt. Hon. M. J. Savage, and the Minister of Finance, the Hon. Walter Nash, which took place recently at Wellington. The communication advises that the Ministers coneerned are quite prepared to meet representatives of the 'local bodies after Parliament has gone into recess cn December 10, if the loeal bodies should feel disposed to adopt this course. The members for the districts also intimated that they would be prepared to arrange for a deputation of local body representatives to meet the Ministers, either at Napier, or at Wellington. ";I feel that all the local bodies should take advantage of the offer," said Mr C. Lassen, chairman of the Hawke's Bay Hospital and Hawke's Bay Rivers Boards this morning, when cenfirming the receipt of the letter. "As chairman of the Hospital Board I certainly think we should make the most of the opportunity offered." It will be recalled that, following the receipt of demands for th© repayment of the interest and prineipal on the earthquake loans, representations were made to the Government for recon"sideration to be given local bodies along the lines that given priyate borrowers at least, but, preferably, similar to that accorded the Napier Borough Council, which had the full loan indebteaness cancelled. Private borrowers, however, were granted the concessi.on of interestfiree loans. The result of these representations was a xeply to-the effect that the Government was prepared to reduce the interest charges by a half per cent. General dissatisfaction was expressed at subsequent meetings . of the local bodies coneerned, and the three members or the distri.ct were urged to rCnew representations 'for further consideration with the Ministers. When the matter was discussed at the last Hastings Borough Couneil meeting it was deci.ded that a conference cf local bodies mvolved in the repayment of the loans be called to discuss some united action. In 'the meantime this suggestion- was not furthered, pending the result of the action that .the members had taken, but it now appears probable that, within the near future, this conference of local bodies will eventuate with a view to setting up a deputation to meet the Ministers as suggested, after Parliament goes i.nto recess, •