THE TOWN HAUL LOAN.

Manawatu Herald, Volume XLVIII, Issue 3049, 17 June 1926, Page 4

THE TOWN HAUL LOAN.

COUNCIL’S CIRCULAR TO RATEPAYERS.

The following circular, signed by the Mayor, has been forwarded to ratepayers:— “The Council solicits your whole-hearted support at the forthcoming poll on the proposal to raise a loan of £O,OOO to replace the most valuable of our public buildings —the Town Hall —in a manner worthy of the town it has so usefully served in the past.

“The loss of the old building was a striking blow to the social recreation of the town and district. The Hall offered a ready home for all kinds of socials, dances, shows, theatrical performances, Jreligious services, in fact, any form of public assembly, and its regular use as a Picture Theatre made it selfsupporting. The confidence so engendered has enabled the Council to act promptly in arranging for re-building. “From 1918 to 1920 the Hall was leased at £6 per week; from 1920 to 1922 at £7 per week; but at this stage, to avoid monopoly control, the Council decided to run the Hall as a Municipal enterprise. During the period of the Council’s control the returns have doubled and trebled. For the year ended 31st March, 1926, the Hall in face of opposition, produced a rental return of £l4 6s 8d per week. These are official figures from the bal-once-sheet which are subject to audit bj the; (government Audit Department, and are available for your inspection. “The old Hall was erected and furnished in 1911 at a cost of £3,430, entailing a loan of £2,800, of which £4OO was subsequently repaid. The accumulated Sinking Fund to-day leaves a nett liability of £1,850. “The contract price for the new Hall in brick and plaster is £B,OOO, which, with furnishings, etc., will approximate £9,500, of which there will be £3,800 in hand. This entails authority for a loan of £6,000. Only the actual amount required will be lifted. “It is for this authority that you are asked to support the forthcoming loan proposal. “I desire to point out at this stage that we shall only have to pay interest on the £2,400 already owing on the old Hall, and on the £6,000 now being asked for, a total of £B,4oo—about £lO 0s Od per week. This amount, of course, will be reduced by whatever portion of the £6,000 is not required. “A weekly return of £l4 6s 8d as received during the past year will therefore more than pay interest, etc., on the new Hall. “It must also be remembered that the new Biograph and plant is already in hand and paid for; also that the extension and improvements to the Bandroom, paid for by the Town Hall account, will be made good use of after the Hall is rebuilt.

“The foregoing should convince the most sceptical that the new Hall will be entirely self-support-ing, and that the rate pledged as security for the loan will not need to be called up. “Every provision is being made for the comfort of the public generally, and the new Hall when completed will be worthy of the town and citizens in every respect.

“I feel sure the lead given by the Council in unanimously asking for your support will not go unheeded.

“Polling Day, Wednesday, 23rd .June, 1926, at the Temporory Hall, Main Street, between 9.0 a.m. and 7.0 p.m.

“P.S. — A careful perusal ot' the above wijll show that the Ratepayers can have a new Town Hall worthy of their town without any increase whatever in the present rates.”