ELECTRIC LIGHT.

King Country Chronicle, Volume VI, Issue 444, 2 March 1912, Page 5

ELECTRIC LIGHT.

To the Editor. Sir,—Re Mr Boddie's letter on the above subject. Perhaps you have heard of the old maxim sometimes attributed to lawyers, "When you have no case, throw mud at the other side." The Mayor who appears to be still chafing over the defeat of his Dreadnought gas project seems to have adopted that course. But his reference to the position of the electric lighting question in Stratiord is one of the strongest arguments, when analysed, in favour of Te Kuiti adopting that light, and doing it at once. There have been persistent rumours crculated by interested parties, that we wont be able to borrow the money (the wish is father to the thought) and that we should do nothing in the matter until we have secured the money. It might interest ratepayers - to know that the money for cipal Building was only secured within the last two weeks, although the contract was let over three months ago. a Wellington firm has,_ unsolicited, approached the Council in connection with finding the lighting loan, and there is no doubt in my mind which scheme is going to pay best. Just before the Stratford Electric Light Company was formed, the ratepayers there were in a similar position to what we are now, with this difference: that while the majority have voted in favour of having their own electrical installation, the ratepayers in Stratford had not that confidence in their own future, and very foolishly decided to hand over the right to a private company, and this company started off with a capital of £SOOO, and has paid 10 per cent, practically since its inception, besides paying for extensions and sinking fund out of revenue. During their last financial year they made a cleai profit of £IOOO. The company having made such a financial success of the scheme, negotiations were commenced with a view to the borough taking over the concern. The company valued their goodwill at £6OOO. This value was questioned by the borough, and it was eventually decided to refer the f whole matter to arbitration. This was done, the value of the goodwill being assessed at £4OOO, and even the Mayor must admit that a concern, the goodwill of which is worth four-fifths of its subscribed capital, must be in a flourishing state; not only that, but the additions and extensions which have been paid for out of j.evenue, have increased the value of the concern to such an extent that £15,000 is now required to buy out the company, the capital oi which was only £5000". Naturally the company are not axious to sacrifice a concern which is paying so well, and the payers of Stratford apparently don i like to pay £15,000 for a concern that only cost £SOOO, and has paid 10 per cent, practically 3ince its inauguration. Whether they are wise in so doing is their concern, as the value is increasing all the time. To get nearer home: Hamilton has only lately paid a big price to buy out the local gas company, and the ratepayers appeal to think it has been a good business proposition for them, and Palmerston North is considering the same thing. We, in Te Kuiti, are in a much better position than either of tnose places. We have no company to buy out (and 1 hope never will), and while Stratford is asked to pay £15,000, Te Kuiti will get its installation for less than £SOOO, and its going to be a good paying proposition for the borough, the opinion of the opponents of the scheme to the contrary notwithstanding.—l am > e k c -> M. W. FORSYTH. Te Kuiti, February 29th, 1912.

To the Editor. g- ir) .—ln the interests of athletes and the public in general, I should like to see something done towards having the drain across the Domain closed as soon as possible. _ The trench in connection with the drainage works has been open fur a very long time and cricketers have bean put to a good deal of incunvenience. There is only the one wicket fit to play on, and the open drain is so close to it that it 13 impossible to play a proper game. I quite agree that the public works should be carried on apart from consideration of games, but there is surely no need to keep this drain open so long. The sports meetingis coming off this month, also, „ and it looks as though the sports would have to be held elsewhere unless action is taken to hurry the work. What is the Domain Board doing anyhow? —I am, etc., CRICKETER.