TOWN HALL FOR TURUA.

Hauraki Plains Gazette, Volume XXXVI, Issue 4876, 11 September 1925, Page 3

TOWN HALL FOR TURUA.

COMPANY TO BE JFOIIMED. DECISION OF PUBLIC MEETING. Turua in the near future is to have a modern public hall fit for the requirements of the district and equal to any in the neighbourhood if the proposals detailed at a public meeting on , Wednesday evening are brought to maturity. About 40 settlers; representative of the township and surrounding country, sat in the dilapidated Victoria Hall, a relic of the old-timber-getting days, which is fast falling to pieces, They shivered owing to the numerous draughts from the broken windows and gaping walls which made the kerosene lamps smoke, the spiderwebs fall, and the torn wallpapers give but weird sounds, while the schemes were explained. Mr J. Mules, chairman of the'Town Board, who' presided, detailed the causes which had led the board to approach the! settlers with the proposal and the resutls of the various meetings, which had been held. Mr A. E. Aberhart had, at the request of the committee, prepared plans and estimates of a suitable building, and a scheme for financing it had been approved. •

- • The proposed hall would have a seating accommodation of from 40.0 to 4'50 persons. The auditorium -would be'6oft by 20ft, and the stage, which could be used as a supperroom was 40ft by 20ft. Behind the stage there would be two dressingrooms, each lift by 10ft, aifd a kitchen 17ft by 10ft fitted with cupboards,, a copper, sinks, etc. At the front of the building there would be two cloakrooms each 15ft by 12ft a lobby Bft by Bft, the front doors being set back 4 ft. Alongside the hall there would be a sweet stall. The cost of the building as estimated by Mr Aberhart was £2213, and the total cost of building, land, fittings, and all. furnishings necessary was £2750'. The bgst of materials would be used throughout. The outer walls would be of iron, and the inner walls would .be match-lined for Bft and the rest plaster boarded, as would be thh ceiling. The front wall would be of heart of matai weatherboards, and the dancing floor would be of matai. Mr Mules said that before proceeding further it was necessary to know if a public hall was required. Mr A. Sutton moved: That it is highly desirable to have a public hall in Turua, and that this meeting pledges itself to do its utmost to bring this -about. . ■

Seconded by Mr J. T. Davies and carried. Mr J. E. Green explained the method of financing the proposal, which Mr A. H. Rogers , and he had drawn up and which the committee had adopted. The scheme was one that whs, likely to be acceptable to the people of the district, the bank, and the* guarantors, and was 'one that would limit the liability, spread the liability, and spread the responsibility with complete finality to all concerned within a reasonable. time. Firstly, an application should be made to the bank for an advance of, say, £2750, on the (security of a joint and several guarantee signed by as many as possible. Such guarantee would be backed by debentures oyer the seeurity Of the hall, fittings, land, etc. A limited liability company should then be formed with an authorised -'capital of, say, £3OOO, divided.into 3000 shares of £1- each, and the district canvassed for applications. The conditions suggested would be that 2<s or 2s 6d should be paid on application or allotment and 2s or 2s 6d annually when called upon for nine or seven years to make up the 20s. By this means the company would have a regular ' annual income and could pay off the bank overdraft in a reasonable time. The bank would get the regular reduction it would desire and the shareholder would have a definite and fixed liability of £1 per > share and would know that he would -only have to find 2s or 2s 6d per share a year until' he had paid them up to £1 each. The shareholder would Jiave security for the money he paid in, as he would be a part owner of the hall , and property, and if the business was r»n successfully would receive interest bn his money. . The suggesters of the scheme strongly recommended that the. whole of the nett profits of the company after paying all expenses should be set aside to pay off the bank for, say, five years. By that time it might be possible to pay interest, though it was recommended that the overdraft be wiped out entirely before this was done. If the profits, were' great it might not be necessary to call., up all the 20s on each share. These condishould be embodied in the Memorandum and of Association so that shareholders would be thoroughly protected, and they could beincorporated in the application for shares, and it made the basis of a contract as to the conditions under which the shares were to be allotted. It was very strongly recommended that it would not be safe or desirable to go on with the scheme unless a minimum of 2000* shares were applied for.

After Mr Green had explained derails that had not been thoroughly understood and Mr Mules had pointed ■out that the scheme was not put forward as> an investment nor to be gone into for the interest that w&uld be ■drawn but as a means of securing a hair for the district, for which object residents should be prepared to make some sacrifice, the matter was discussed at length, speakers urging the adoption of the scheme and the cooperation of the whole of the people of the district. It was pointed out that if the people who would benefit supported the scheme others would do likewise. Members of the committee mentioned that men in Auckland and Thames were very interested and had promised to subscribe if the people of Turua took it up wholeheartedly. On the motion of Mr C. Dale it was decided to adopt the recommendations of the committee as to the. building and furnishing of the hall, on the plan submitted, and on the motion of Mr Truelove it was decided that lhe calls on shares be 2s 6d a year so that the

bank overdraft would be wiped out in a term acceptable to the bank. Mr F. Truelove moved that it be left in the hands of the committee to proceed with all details of the formation of the company, the canvassing for shares, the application to the bank, and the necessary arrangements for, the erection and completion of the building, etc., and that it be a recommendation froni the meeting to employ an architect and that public tenders be called with the view of having proper supervision and protection in all matters relating thereto, and to do all possible to reduce the amount of the present estimates.

Seconded by Mr D. G. McMillan find carried.

Mr Green said it was necessary to get the j’oint and several guarantee signed and the overdraft approved by the bank before the company could be formed. It was of no use going ahead if the money would not be available. It was desirable to get every shareholder to sign the joint and several guarantee. that was required in the meantime by the bank was that settlers sign an agreement to sign a joint and several guarantee when required. After votes of thanks-had been accorded Mr Aberhart f<sr the work he had done in preparing the estimates and plans and to the committee for its work the meeting closed. As far as could be seen, all present came forward to sign the agreement pledging them to. sign the joint and several guarantee.