WELLINGTON RAPACITY.

Manawatu Herald, Volume III, Issue 92, 19 July 1881, Page 2

WELLINGTON RAPACITY.

» The rapacity of the Wellington people is<i deeply entrained that it appears to b< impossible for them to rid themselves of it. No project of a public character is ever skirted by them without this prevailing characteristic showing itself sooner or later. The West Coast railway scheme is a cas* in paint. If ever there was a matter in which individual gree 1 should be subordinated, it is that. Wellington stands to ■■lain largely by tho construction of that lin°, ami what benefits the city as a whole must proportionately henefit. its leading business men. They have up to the present worked well for the cause, but already " the cloven foot " is beginning to show itself, that is, if we are to beliove the writer of a letter signed "A Shareholder," and published in Saturday's Times. The writer says:-* " It isfarranged by the embryo directors to give effoct, if possible, to a vote 'hat shall give the L mdoti Board £1500 par annum and % like amount to the local Board for their services, with contingent bonuses in the event of tho railway paying a profit o' 8 per cent, and upwards. That the Lmdon B >ard shall consist of five members, which would give to each £300 per annum ; aivl that the local Board shall consist of B?ven members, which would give to each £214." While giving credit to 'he promoters for their zsal so fv, " Shareholder " condemns the proposal to pay them so large a sum annually, «nd suggests that the local B >ard should be content to accept a snrn which, whiln it should be sufficient to cover actual expense and loss of time, should not leave a profit, and cause the position to be coreted for the moneys sake. He also 1 pertinently asks :— " If the local directory

should ha voted .£ISOO per annum — to which add a well-paid secretary and a lot of contingent expenses, ooupled with the H.jjne directory and their expenses, I would ask, " how much of tho £50,000 will be swallowed up before the railway is openedupfor traffic?" We imagine tha statements contained in tho letter referred to, if correct;, would cause considerable discussion in Wellington. If the promoters do intend to attempi to carry such a proposal, it is to be hoped their effn-ts will bo foiled by the shareholders. Hungering for the loaves ami fishes is calculated not only to weaken colonial sympathy with the Bcheme, but also to suggest to the English moneyleaders that "all that glitters Lj not gold," and that possibly caution may be desirable before advancing money upon a scheme which is brought before them under snoh circumstances. Possibly, though, the .£3OO per annum to the • London directors may act well in tlie way intended— -vis a bait. At any rate that sum would represent good yearly interest on the 100 shares a person would have to hold to qualify him for the pojt of director, and after all human nature is the samj in L >ndon as at Wellington.