SOLDIERS’ HALL

Hokitika Guardian, 21 December 1929, Page 5

SOLDIERS’ HALL

COMPLETION PROPOSALS. Recently some particulars were made public of the proposals to complete the Soldiers’ Hall. The work is estimated to cost £50!), and for this the Returned Soldiers’ Club has in hand and immediately in sight, some £250. It will therefore be necessary to raise approximately £250. R is proposed to raise the amount named by the issue of bearer bonds, fifty of which will be issued at £5 each. The bonds will carry a rate of interest of 7J per cent., which will he payable annually. Redemption of the principal will not be less than £SO annually, ensuring the discharge of the full liability within five years, though it is expected the debt will be cleared off in much less time/ as it is proposed to organise a series of lienefits and ent‘"tainmonts in aid of the new building fund. The immediate issue of the bonds which are to date from the Ist. January next, will however, permit the whole work to be pushed on, and the enlarged and more convenient hall should therefore be ready by Easter at the latest. An advertisement inviting the public to apply for the bearer bonds appears in this issue, and it is hoped the invitation will meet with a satisfactory response. The Returned Soldiers have now received from the Hokitika High School Board a fifty years’ lease of the area on which the Soldiers’ Hall stands. The estimated value of the present building is £BSO, and with the additions and furniture the total value of the property will run to upwards of £1,400. There will be no other debt than the £250 now to he raised by bonds, so that the financing of the proposition should be assured. It is expected that there will be a community effort to assist in providing the required finance, as the building when completed as intended, will be more useful than ever for social functions. The Soldiers’ Hall! has proved something of a special asset to, the town, and will be more useful than ever when enlarged, to ’ the commodious ‘size proposed. Applications for bonds should be notified as early as possble, and further particulars may .be obtained from the President, (Mr Evans) and Hon Secretary" (Mr Paterson).