GAS WORKS LOAN PROPOSALS.

Manawatu Herald, Volume XXXII, Issue 898, 29 September 1910, Page 2

GAS WORKS LOAN PROPOSALS.

(To the Editor.) Sir, —In your issue of Thursday last, the 2 2nd inst., in the course of a very full report of a meeting of ratepayers held to discuss the proposal to purchase the Foxton gas works, it was stated that contracts had been let to individual members of the Company, and that ratepayers were really called upon to pay ,£2,500 more than was actually paid by this Company. Might I be permitted to make an explanation on these matters in case of any misunderstanding that may exist* in the minds of ratepayers ? No contracts were let to individual members of this Company. Some time after the completion of the works the contractors applied for admission to the Company, and, on their application being accepted, they became members ot the Company, but they did not, in the first place, contract as such. Again, ratepayers are not asked to pay .£2500 more than the cost of the works to this company. The ,£9OOO which the Foxton Borough Council is asked to pay covers not only the cost ot the erection of thg works, but all that capital expenditure necessarily incurred by this Company, and which is represented by mains, services, and reticulation, all of which pass to the Council. Thanking you in anticipation, and reiterating my previous statement that this explanation is simply made in case the exact position is not dear to all ratepayers concerned.—l am etc, H. F. Au,en, Secretary Foxton Gas Works Proprietary, Ltd, Wellington, Sept. 27th, 1910.