THE GAS MEETING AND THE RATEPAYERS.

Nelson Evening Mail, Volume V, Issue 256, 31 October 1870, Page 2

THE GAS MEETING AND THE RATEPAYERS.

To the Editor of the Nelson Evening Mail. Sir, — Will you be kind enough to allow me a space in your journal for a few lines on the above subject. JLsevond the bare announcement by advertisement of a meeting for the above purpose, the ratepayers are altogether in the dark as to what course the Board of Works intend to pursue in the matter. It is scarcely reasonable to expect the ratepayers to commit themselves to increased taxaFor remainder of News see Fourth page.

,tion and liabilities without knowing in precise terms by what means and at what cost the town is to be supplied with gas.

It would seem as if there was no definite course agreed upon by the Board of Works themselves, among whom there is evidently an absence of that unanimity which is likely "to make the object succeed. Surely some course has been agreed to by that body, and will be presented in the shape of resolutions at the meeting to-night.

As it involves a considerable expenditure, it would have been better that the resolutions should have been published before the meeting, in order that the ratepayers might fairly understand what they are voting for.

I am still of opinion that considerable doubt exists 1 as to the probability of a Bill to borrow money for the above purpose passing through the General Assembly, a view that I find generally held by persons conversant with these matters ; there is also the delay and uncertainty that exists in an elective body, which, even at the outset, is divided on the question.

As a ratepayer, I am desirous of seeing a fair and equitable arrangement arrived at, and in order to bring this about, I purpose moving the following resolutions at the meeting this evening : —

1. That the ratepayers in public meeting assembled, having for its object the best means of supplying the town with gas, believe, that it can he best carried out by tbe Board of Works, on their behalf, applying for (on the express understanding that they will be allotted) one-fourth of the number of shares that may be agreed upon by any company formed for ibe above purpose, and that tbe Chairman of the Board of Works for the time being shall be an ex officio member of the Directory entitled to a seat by virtue of his office, and in the event of the city at any time being governed by a corporation, then the chief officer of that body to have a seat on the board of Directory.

2. Further, the ratepayers are of opinion that any Companj in process of formation should have a clause in the prospectus to the effect that the applica'ion for shares shall be open to the public for 14 clear days before allotment, and no more than 50 shall be allotted to any one person until all shares applied for at and below that number are allotted - and the Chairman of the Board of Works and Mr. be appointed to confer with any company in process of formation to see that the above resolutions are carried out.

The question presents itself, how will the above work for the benefit of the ratepayers, and what advantage, if any, will accrue ?

In the first place, the Town Board will be tbe | largest consumers of gas — presuming that it will cost them £150 a-year to light up the town, Port Road, Bridges, and Waimea Boad, and that the Board hold shares in the Company of the value of £2500. Providing the dividend should be at the rate of 1 5 per cen t per annum , which is about the usual amount paid by Banking Corporations and Gas Companies, then the Board of Works will receive £375 towards the expenditure for gas. For some time tbe Board would have to pay interest for the money so invested, but this could be recouped out of the rates, and the whole might be annually written off and the shares would be capital stock of the Board of Works, always an available asset that could be used for borrowing purposes if required, or as collateral security for an overdraft. The oity would be put to little or no inconvenience whatever, no delay need occur in the undertaking, and the last clause in the resolution would effectually stifle the cry of monopoly that has been raised against the promoters moters of the Company. I am &c, M. Lightbani*.