MAKERUA DEBENTURES.

Shannon News, 5 September 1924, Page 2

MAKERUA DEBENTURES.

CLAIM FOR PAYMENT. At the Magistrate’s Court, Palmers-, ton oxi Tuesday, Arthur Emerson Mabin, Qf Wellington, Hope Gibbons, o f Wanganui, and Arthur William Akers, of Palmerston North,, proceeded against C. H. Speus,. ttaximiier, of Shannon claiming £IOB in respect .of a, certain agreement. Mr tones appeared for plaintiffs and Mr OQoper lor defendant. . . -.- Plaintiffs, in their . statement oi claim, set’out that by, agreement dated August 25, iy-2i, ueicndant agreed witlx them that, in consideration of tiie latter selling certain debentures of the Makei:ua Drainage Board, the deiexidant wquid pay such proportion oi ihe loss niade on such safe as should be Board to be a, proper proportion thereof. ’ The’plaintiffs lurther set our that they had sold certain debentures under the agreement, and the amount certified by the board as the proper snare of defendant was the sum of £10& wiiich sum defendant had not paid. ' The defendant, in his statement oi defence, alleged .that the agreement had been entered into on the undertaking that ail the ratepayers were to sign the agreement before it would become operative and that a number ol the ratepayers had not signed it. Evidence was given by; G. A. Louglinah, solicitor, as to the agreement which had been drawn up in connection with the* Makerua Drainage Board’s flood protection scheme. Defendant had been a party to the agreement but lie had refused tQ pay his share when called upon to do bo. Defendant said that* when the agreement was drawn up, it was understood that it would not operate unless every ratepayer had signed, it. In point of fact a number of his neighbours. had not yet signed the agreement! He was. prepared to pay his share if the others signed the agreement and the Drainage Board dealt with the whole matter. The Magistrate reserved his decision.