The Nelson Evening Mail. MONDAY, MAY 22, 1871.

Nelson Evening Mail, Volume VI, Issue 119, 22 May 1871, Page 2

The Nelson Evening Mail. MONDAY, MAY 22, 1871.

The lighting of towns with gas, which, when first proposed, was treated by the wise men of the day as the most visionary of projects, is now deemed one of the most indispensable of practical requirements, and has been adopted by every town of any importance except Nelson. It is quite time that we followed suit. The large meeting of ratepayers held ou Friday evening was satisfactory both as having elicited their all but unanimous approval of the steps taken by the Superintendent, and also as having been the occasion of a satisfactory explanation being given of tbe financial position of the waterworks on which doubts had been cast, for it appears that the overdraft at the Bank has been mainly occasioned by the extension of the supply to streets not included iv the original scheme. It is still more satisfactory to learn that the extensions are returning a very- handsome profit on the outlay incurred on their account. Besides this, the sinking fond has paid off £1500 of the original debt. There are still some persons who would have preferred to see the gas supply undertaken by a company, and with respect to intending shareholders in such a company, this desire is quite intelligible, but it is difficult to see why the public should wish such a course to be pursued, for a company would look for large profiis, which must come out of the pockets of consumers, whereas the Government desire no such profit, but will fix the price of gas at such a rate as will merely pay the interest of the loan and the expenses of production and management. It is true that in some towus at home, in which the gasworks are in the hands of the corporations, the gas is sold at a profit. — in Manchester, for instance, a surplus income of £25.000 a year is thus obtained, which is employed to lighten the other rates — and the same course might he pursued, here, but »s many buildings which are chargeable with the Board of Works rates will be hej-ond the limits of the gas supply, it would seem better to confine the benefit to those who actually consume it, which can only be done by supplying them with it at cost price. We may notice, however,; one objection to the supply being in the hands of the Government, which waa used at the late meeting, namely, that Governments sometimes make mistakes. We allow that they do, but would beg to ask in return if. mistakes are not also occasionally made by companies ? The recent history of Nelsou furnishes but too ready an answer. The conditions laid down by the Geueral Government that the loan to be raised shall have the ordinary town rates as a collateral security, is not likely to endanger them in the least, as the price of gas can be regulated so that it will pay the whole of the charges incurred for its manufacture and distribution, while it has this great advantage, that the better the security offered to capitalists, the lower the rate of interest which will satisfy them. This may make a difference of j a half, or even of one, per cent., in the rate | of interest at which the loan will be raised. At a future date we hope to furnish some calculations, founded on practical data, as to the price at which gas may be supplied.