The Telephone. WITH WHICH INCORPORATED THE POVERTY BAY STANDARD. PUBLISHED EVERY EVENING. GISBORNE, FRIDAY, OCTOBER 17.

Poverty Bay Standard, Volume I, Issue 263, 17 October 1884, Page 2

The Telephone. WITH WHICH INCORPORATED THE POVERTY BAY STANDARD. PUBLISHED EVERY EVENING. GISBORNE, FRIDAY, OCTOBER 17.

To-day the question so long pending with respect to the purchase by the' Harbor Board of Mr. William Adair’s store at the wharf, was, we are glad to be in a position to state, satisfactorily solved, 'fhe deed of conveyance transferring the properly to the Harbor Board at the price fixed by arbitration, namely Z'+6o, was executed this afternoon by Mr. Adair. The Borough Council, it will be remembered originally purchased the wharves from Mr. Adair, that gentleman, however, retaining the store. When the Harbor Board came into existence, it did so under peculiarly impecunious circumstances. It had in fact absolutely nothing but a vast amont of confidence in the resources of the Borough Council, and started in life by borrowing from it This amount the Board was fortunate enongh to pay off in less than eighteen months. New wharves were erected at an outlay of over one thousand pounds, and finally, have completed the present purchase on terms which, while satisfactory to Mr. Adair, are doubly so to the public generally. The Board that started with absolutely no revenue, unable to pay salaries or office expenses, has in a short space of time, through careful administration, and acting in a clear - sighted manner, brought things into a gratifying condition. Starting under the adverse circumstances it did, it has undoubtedly done well. While its total liabilities are about two thousand pounds, it holds valuable assets. From the wharves and the store a net income is estimated of not less than a thousand a year. The Board, under the new. Act, will assume office under favorable auspices. Still it must not be forgotten that especial praise is due to Mr. John Townley, for the steps taken by him in the Borough Council, in urging, with the force he did, the wisdom of having the wharves secured for the public, instead of remaining in the hands of private parties. The ratepayers, of the Borough, and the district generally, are now reaping the fruits of his forethought.