Foxton Harbour District

Horowhenua Chronicle, 7 September 1916, Page 3

Foxton Harbour District

A statement issued by tile chairintii) . of the Foxton Hai'Lotir Hoard mm as follows:— The population of the local bodies •in the nbovo district is set down in the latest Government statistics at. Maniwatu county 40-1 o, Kairanga county *1298, Paltrier/,ton borough 12,2(K), Feilding borough 3505, Levin borough 1779, Foxton 'borough 1814: a total of 28,547. The total capital value is £!),442,929, Levin being C 283,457. For n loan of £I<>,ooo Levin would hare to contribute £20 per annum towards the intercut at "5 per cent. Tlu> estimated amount of the receipts for the twelve months commencing August Ist of this year is '£2300, jvikl expond : tur< 1750, .leaving a surplus of £550. If the wharf is not available until legislation i.s passed, say, twelve month? lience, ami the earnings are put aside an provided by the Commission, the cost to the 'board nhoukl bo nibout £3000 instead of, £5000. The rating area to produce £4000 docs not mean that £4000 a year has to be collected, but to provide an assured income of that amount if required. An annual levy of £i~OOO would cover a loan of £80,0(X) at 5 per cent, and l this is clearly not the intention of the Commission. Loans can only be raised by consent of ratepayers and by legislation. Seeing tlmt the estimated! income, based on the past earnings of the railway nlncl the bonrdl, is C2HOO and expenditure £1750, leaving an excess of £550, the collection "of £4000 is not at all likely to be necessary. For a loan of £10,000 — for dredge £10,(700, whmrf £5000. and £1000 for goods-shed (which last contingency it is thought best to provide for for expeditioinrsly handl'ing goods)—£800 would be required «« intercut at 5 per cent. This calculation is made without taking into eons deration' any reduction by way of earnings by the railway being set aside as provided by the Commission, anil the estimated excess .ainnual receipts over expenditure. " Tt is therefore proposed to ask for borrowing powers up to £l(j.000," with a Rood prospect of that amount not being rotjuired. Assuming always the cost of the wharf is reduced % the net earnings to be set Aside by the Railway Department. The -rating area to produce £4000 is forced) upon the board by the Commission, but the price of the wharf is reduced .from £"2G.000 to £5000. The board can reasonably ■anticipate increased shipping, which, of course, means increased revenue.