REPORT RE ADAIR’S STORE,

Poverty Bay Standard, Volume I, Issue 203, 7 August 1884, Page 2

REPORT RE ADAIR’S STORE,

The following report of the Finance Committee was read last night:— “ We beg to report that in accordance with instructions received from the Board to make arrangements with the Bank for funds to purchase this property, that we interviewed the manager of the Bank of New Zealand, applying for the sum of £460 for this purpose, when he recommended that the matter should stand over for a month or six weeks, when he thought the matter would be satisfactorily arranged. And we recommend that Mr. Adair be informed that the Board will in all probability be able to close with him for the purchase of his store on or about the period above mentioned.” Mr, Lewis, the Chairman of the Committee, said he had little further to say on the matter. The Bank manager, Mr. Matthews, thought if the matter was allowed to stand over for a month, then there might be every probability of further advances being made. Mr. Joyce—l certainly object to borrowing money to buy this establishment. I should like to know what is going to be put in it in order to remunerate us for the outlay. The Chairman—That question arose in the meeting of the Finance Committee with regard to the wharfinger. There are a lot of goods which have been lost sight of, and the wharfages on which have not been paid, but that would be rectified if we had a place of our own, and would not cause so much trouble in collecting the wharfages, &c. Mr. Joyce—That certainly is a point in favor of purchasing it, and I should be agreeable to doing so if we had not got to borrow the money, but there are other matters which require the money of a far more important character. Mr. Tutchen—The buying of the store is just as necessary as deepening the river. The discussion then ceased.