Manawatu Herald THURSDAY, MAY 9, 1918. THE HARBOUR LOAN.

Manawatu Herald, Volume XL, Issue 1824, 9 May 1918, Page 2

Manawatu Herald THURSDAY, MAY 9, 1918. THE HARBOUR LOAN.

ALL the local bodies in the Foxton Harbour District arc strongly in favour of the Harbour Board’s proposed loan in connection with tho acquisition of the Foxton wharf, and improvements to the harbour, and are urging ratepayers to sup-, port the proposal on polling day, May 21st. When the proposal to purchase the wharf was first put before the Railway Department the value placed upon the wharf, based on its earnings, was £20,000. A few years later, the yearly earnings, having increased, the price asked was £32,000, A Royal Commission was set up, and as a result of the recommendations of same, the Board now has an opportunity of getting possession of the wharf for £5,000, an opportunity that should be seized upon by the ratepayers of the district. In connection with the loan, the ratepayers will not be called upon to pay one penny towards the cost of the wharf and dredge, as the earnings from the wharf, even under present unfavourable conditions, arc more than enough to pay interest and sinking fund on the amount of the proposed loan. The progress of this district depends to a great extent on the development of the harbour, so ratepayers should make a point of rolling up on the 21st instant and recording their votes ip favour of the proposal.