400,000 WAS WANTED: TOO MANY REQUESTS

New Zealand Times, Volume LIII, Issue 12608, 19 November 1926, Page 7

400,000 WAS WANTED: TOO MANY REQUESTS

SMALL (OAK LIKELY TO BE ACCEPTABLE

In order ' to. ascertain whether the reserves committee did -contemplate placing a sum of £soJQQo*'dh the estimates for the pfirpps-pw indicated above, a “Times” representative had a chat with Councillor W-' Thompson, chairman of the committee, yesterday. "“Hv Councillor Thompson stated that some of these questions would be considered by the finance committee at its meeting next Monday. When on the last occasion the committee submitted a proposal to the council to float a loan, the health, libraries, and works committees came forward with schemes for loan proposals, so that in all the council would have required a loan, of about £400,000. The council considered .that the time was not opportune to put such a big loan on the market, ana so the whole of the proposals were dropped. If the committee went forward to the council with a' proposal for a smaller loan, said Councillor Thompson, he did not think it would he turned down, and be thought the ratepayers would sanction it. AH the works proposed were capital works, and it was only fair that posterity, which would benefit, should pay some of the interest and sinking fund.

It would not be fair to do it ont of income. THORNDON ESPLANADE Regarding the Thoradon Esplanade compensation fund, a sum of about £13,000 was act off against it for the land taken for the widening of Wakefield' stfeet, this land being part of the old Te Aro Station. He aid not think there would be much - chance of reinstating that sum in the fund to be spent for recreative purposes. EVANS BAY RECLAMATION The allowance in respect of Te Are. would not exhaust the Thoradon compensation fund by a loajg way, bnt there was little likolihoodof any oash being received from the Harbour Board on this account. Negotiations were proceeding, and it was likely that the city would receive a quid pro quo from the Harboui Board_ in the form of a certain area adjoining the esplanade at Evans Bay when the reclamation work was carried out. This would give the reserves committee a valuable addition to tbe Kilbirnie recreation ground. Exchanges of this kind were far hotter than Tor money to change hands between local authorities.