The Times. Published on Tuesday and Friday at Noon. FRIDAY, MARCH 5, 1920. LOAN MISCONCEPTIONS.

Pukekohe & Waiuku Times, Volume 9, Issue 511, 5 March 1920, Page 2

The Times. Published on Tuesday and Friday at Noon.

FRIDAY, MARCH 5, 1920. LOAN MISCONCEPTIONS.

"We nothing extenuate, nor set down aught in malice."

Several misconceptions exist in regard to the Pukekohe Borough loan proposal, by which the ratepayers will be asked to sanction a loan of £28,000 for various works. It is objected by some people that, as the loan matures in ten years, the ratepayers will' have to find £BOOO a year for interest and sinking fund. Admittedly, such a burden would be excessive, but there need be •of such an amount being asked for in any one year. The reason for why the loan is legally advertised as maturing within ten years is that, being short-dated, it can be secured at a much lower rate of interest than if dated for, say, thirty years hence. When the J.en years is up, the Council, by the usual procedure, may j make arrangements for the unpaid portion of the loan to be covered anew, also at short date, thereby ensuring a comparatively low rate of interest over a period extended considerably beyond ten years. Further, money may be cheaper in ten years' time than it is to-day, in which event the Council will gain something. In regard to the drainage scheme, sonic uninitiated persons are under the impression that the whole of the drainage effluent will be poured down bores. Of course, this would never do; the effluent will be conducted into a septic basin, and the fluid only sent down the bores, aftei which, even if it overflowed—which is unlikely it would be so purified that there would be no objection to the overflow being carried into a creek. These and other matters can be fully explained at a meeting of ratepayers, which, we understand, will be called shortly. In the meantime, nothing can be gained by spreading incorrect views.

LOCAL AND GENERAL NEWS. The Tuakau Town Board publishes a notice to-day re noxious weeds. The Pukekohe Orchestra Will meet for practice on Monday evening. See advt. In connection with the Mauku proposed Victory Hall, a meeting of the residents will be held in the school on Tuesday evening.- See advt. The little gir l -Jean Wilkinson, wno was injured by the breaking of the 'ocean wave" "at the Show, is now making satisfactory progress. The financial year of the Franklin Printing and Publishing Co., Ltd. ends on March 31, and we would therefore appreciate a settlement ot all outstanding accounts on or before the 20th inst., after which date the balance-sheet will ne in course of preparation. At the meeting of the Auckland Education Board on Tuesday, the Tuakau school was recommended fo: a certificate "of merit for garden work for 1919. An important in reference to the nomination of candidates for the permanent board of directors of the New Zealand Co-opera-tive Dairy Coirpary, Ltd. appears m our advertising columns. Owing to the nomination paper of Air. 0. P. Kwing, Whangarata, for membership on the Franklin Licensing Committee being misdirected in posting, it did not reach the returning officer in time to be effective. The town clerk, Auckland, has invited the Franklin County Council lo join in the welcome to U.K. (J. the Prince of Wales, by sending a banner displaying a welcome greeting to b« placed in Queen Street. s'icli as was done *>n the occasion tin* visit of the American Fleet. The council agreed, the cost not to exceed »: ion. At 11-.-. 1.0.0. K. A 1.1". nieet-.ig at !\.t.'il!:ii.oe List llip Jit. tile V.scUlan I lV'.'i lial Secelai v «x- ---; iaiiK'ii that seciet.s also allowed a member to insure for £IOO, at a lower cost than any insurance company in the world. The reason of this was licci'.use the whole of the premiums w< re devoted to ihe insurance fund, nothing being used for such things ps directors' fees, canva.ss.vs. etc., which costs were usu-

liy incurred by insurance companies. The Lyceum management wish t> make it clear to picture patrons that the sei ial store, ' Wolves oi Culture, staiting to-morrow night, is an extra. and is no pari, oi the ordinary iii'ouramme. It simply means a longer show at no extra cost to the 'public, it will be .screened last in order that tho:.c who do not wish to stay after the usual porgramme is completed will be able to leave.