EARTHQUAKE LOANS

Hawke's Bay Herald-Tribune, Volume 81, Issue 71, 16 December 1937, Page 6

EARTHQUAKE LOANS

Local Bodies Confer at Hastings TO MEET FINANCE MINISTER Fifteen local "bodies, from "Wairoa to Hastings, "wero Tepresented at a conference field in Hastings yesterday afternoon to consider wfiat steps are to be taken Tegarding tfie repayment of earthquake refiabilitation loans. It was decided eventually to arrange a meeting -witb the Hon. Walter Nash, Minister of Finance, in February next, witfi a view to coming to some finality on the matter. The Mayor of Hastings, Mr. G. A. Maddison, presided, and a survey of the position was made in the ensuing discussion, which. was taken in comniittee. It was pointed out that approximately a quarter of a xnillion pounds was loaned by the Government to the various local bodies for rehabilitation purposes following the earthquake period, and that of this amount £101,000 was given to the Napier Borongh Council, but eventually the Governnient decided to malce the Napier loan a free grant, thereby wiping out that body's earthquake rehabilitation loan jndebtedness. This left approximately £.150,000 still outatanding and owing by the local bodies. However, during the past year local bodies received demand notices from the Treasury asking fof repayment of principal and interest charges, but, after making representations to the Government it was agreed by Cabinet that the demands for the eurrent year be waived and that there be a reduetion of a half per cent. in the interest rate in future. This decision did not meet with the approval of the greafer majority of the local bodies, who degired more copsideration, and, as the outcome of the^e protests, the conference yesterday vv~s held. The follov%g table shows the actual eaxthqpato re^bilitation loan indebtedness of the local bodies concerned: — £ HJ3. Hospital Board 66,850 Napier H^rbour Board 30,500 H.B. Rivers Board 11,000 Hastings Bpjrough Council .... 11,000 Napier Fii© Board 7,650 "Wairoa Borough Council .... 4,500 Wairoa Hospital Board 3,700 ILB. County Council 3,000 Taradale Town^Board 2,500 Wairoa County Council 2,166 Hastings Fire Board 2,000 Havelock North Town Board . 950 Greenmeadows Progress League ' 500 Wairoa Harbour Board 400 Total £146,716 A 11 the above local bodies, together with the Mayor of Napier, Mr C. O. Morse, were represented at the conference, and on the motion of the chairman. seconded by Mr F. B. Logan, chairman of the Hawke's Bay County Council, it was decided that the Minister of Finance be invited to visit Hawke's Bay towards the end of Febru- , ary next for the purpose of confering with representatiyes of the local bodies regarding earthquake rehibilition loan indebtedness to the Government; and, further, that the Members of Parliament for the various districts, Messrs E. L. Cullen (Hawke's Bay), "W. E. Barnard (Napier), and H. M. Christie (Waipawa), be requested to aTrange such a meeting.