THE TOWN HALL.

Manawatu Herald, Volume XLIV, Issue 2391, 11 February 1922, Page 3

THE TOWN HALL.

In reference to the Town Hall, the Mayor (Mr John Chrvstall) made the following interesting statement at last Council meeting:— “The ratepayers have good reason to lie well satisfied: with their action in sanctioning a loan proposal to enable the Council to build a tine commodious Town Hall at a moderate cost. The cost of site, hall, and equipment, is entered in our books at slightly Dver £4,000, made up as follows: —Loan for Town Hall and site £2,800, generously subscribed by the Government, members of the Council and citizens for picture plant £SOO, seating accommodation and other permanent fixtures |iaid out of profits £7OO. The working account of the Town Hall to date on a conservative estimate discloses a net profit of £l,lOO, being an average net income of £IOO per annum since it was built. This sum includes £4OO paid to loan account, £350 paid out of, and earned by profits as accrued sinking fund, and the balance represents the estimated depreciated value of fixtures noted above at £7OO written down 50 per cent., leaving £350. For a considerable time the Hall was run at a loss. It became necessary to transfer a sum of money from the general account to meet the liabilities. This money has been paid back as funds were available, and I have pleasure in stating that we have sufficient money in hand to completely wipe out the debt, and leave a small credit balance on this year’s working. “In view of the fact that a number of borough councils are compelled to levy rates to meet interest on loans for municipal buildings, it is gratifying to know that it has not been found necessary to collect one penny in rates to support our % T.own Hall.’

“This satisfactory state of affairs has been brought about partly by good management, but mainly by the local patriotism and support of the people generally, which we are justified in believing will be continued.”