HUTT RIVES BOARD.

Hutt News, Volume 2, Issue 27, 28 November 1929, Page 7

HUTT RIVES BOARD.

At the River Board meeting on Tuesday evening the chairman (Mr. W. T. Strand) made.'reference to. a criticism of the Board ?s finances which had appeared in the press. Mr. Strand said that he resented the criticism that hadbeen made by the, Civic Association when stating that the accrued sinking fund amounted to only £3718. He paid tribute to those responsible for the arranging of the Board's finances when the Board was formed. Wonderful foresight had been shown by. the original Board when it arranged the long term loans at 3uch~a low. rate of interest. The same terms could

not .'be secured to-day, The Association evidently did not know the drifferenee between an inserifcied loan and an ordinary loan. v He felt that such.as. statement was not- only a reflection, on, the present board; but on those gentlemen who had now^ passed away and were entitled to receive much kinder criticism. He believed that Mr. E. P. Bunny was the only remaining founder of the Board and had been largely responsible for ar-ranging-the finance at the time;

Mr. G-ostelow; concurred with .' the soundness of the finance and said thai

the originators were to be eomplimentr ed on what they had done for "the district. .'.'-: . ■..-..'■