MUNICIPAL COUNCIL.

Oamaru Mail, Volume III, Issue 634, 15 May 1878, Page 2

MUNICIPAL COUNCIL.

| A special meeting of the Municipal Council was held to-day : present —His Will-ship the Mayor, and Councillors Mainland. Procter. Spence, Uibbs. and Booih. ! The principal business before the Coun- ! oil was tiie making of arrangements in i eonnec r io!i with the waterworks loan. I Tin; manager of the National Bank (Mr. | Ken-) asked for instructions as to the I payment of the first half-year's interest jon the L>an. and as to the manner in : which the Council would have the pro- . eeeds of the loan transmitted to the : Colony. j It was resolved, " That in order to i save the cost of remitting direct from the ' Colony, the National Bank of New Zoa- ' land, London, lie instructed to pay the j coupons due Ist August, IS7.S, <'amaru: i "\V.-m or works Loan ovJ, of the funds to the (credit of the Corporation on account of i tiii." said loan."' j P was also resolved that the Bank bo j instructed to remit the proceeds of the ! loan, after deducting the August interest, I bv mail.

It was further resolved, "That it be pointed out to the Bank that the Corporation is entitled to interest on the proceeds of ihe loan for the time it has been in their hands in London, and also on the sum. retained for August coupons until payment thereof, and that the Bank be requested to include such sum in the remittance of nroeeeds of loan."

The following resolutions were also passed :

' -i That the action of the Bank in making the debentures repayable at the National Bank of New Zealand, London, be conlirmed."

'• That the Council desires to express its satisfaction with the judgment and care displayed by the National Bank in ihe floating of the Waterworks loan, and with the rate obtained ; and further records its appreciation of ihe pains taken bv the local manager, Mr. Alexander iv.-rr, in connection with the matter."

" That iha Bank be asked to arrange for the advertising in London of the date of payment of coupons in August next, and also of the payment of each halfyear's interest as it becomes due, viz., on Ist August and Ist February in each year, and that the said Bank be authorised to pay the same." It was decided to hand sealed copies of the above resolutions to Mr. Kerr. A letter from Air. J. C. Black was read, asking for permission to arrange with Ah Leong to occupy a portion of the Garden Reserve, was referred to the Reserves Committee. , !

i Mr. Aliens M'Doiwld wrote, making a claim of 12s. ''for putting a temporary crossing over water-race cut through Block 11., Awamoko. by Corporation of Oaiiiiii'u." The letter was referred to the Waterworks Conuni Uee. A letter was read irom Mr. Thomas J'rydone, on behalf of the I\ew Zealand and Australian Land Company, claiming Ji'2S His. for 48 sl;eep lost from Ardgowan Estate through a paddock fence being torn down by the waterworks contractors. The- v,ri;er stated that the shepherds had spent several d;;= '=•• in tracing the sheep, but without effect. The letter was referred to the Waterworks Committee. ] The Council then adjc -,med. |

EXGLAJSWB FOOD SUPPLIES. That the Imperial Government should have telegraphed to this Colony to ascertain what quantity of hreadstutrs it is in a position to supply to the Mother Country, is one of the most significant signs of the times. It indicates very clearly the imminent danger of the Empire being involved in war ; and also the fact that war will not be entered on rashly, or without due preparation. Of all the matters which England must consider before she can take up arms, this question of food is the most important and the most imperative. England grows but a, very small proportion of tno food which its teeming millions eon,sume, and the danger of having its supplies cut off, or seriously reduced, is by far greater than any of the other probabilities of war. The Black Sea ports have hitherto been the great sources of supply to Britain. A war with Russia closes those ports, and there can scarcely be a doubt that, under present circumstances, the Turkish poris on the same sea will also be closed to English vessels. The annual imports of corn and flour into England represent a value of about L 40.000,000, of which over L 14,000,000 worth comes from Russian ports. From Turkey, prior to the war, England annually imported some L-1,000,000 worth of grain, and Koumania exported another LI ,000,000 worth. Thussome L 1.9,000,000 worth of breadstuifs will have to besought for in other quarters if these sources of supply arc shut up. These rough figures will give some idea of the magnitude and importance of the food question which English statesmen have to consider before they shut the Black Sea ports to English ships. Of course, all this Colony can do to solve the difficulty is very trilling indeed, but very little helps, and even the New Zealand grain ships will be welcomed at home. South .Australia will, of course, do its mice, but America must be the main dependence of England for food ; and unfortunately American sympathies are likely to bo on the side of Russia, rather than on that of England. Sympathy, however, is not likely to prevent tiie Americans doing trade, and the main point for England will be to keep the seas open to her grainladen ileet. War will no doubt do New ( Zealand a good deal of harm in many respects, but apparently there will be some compensation in the increased value of our grain, and the circumstances of the whole case may also teach English, statesmen that after all the Colonies are of some use."—New Zealander.