ABOUT SOME FIGURES

Sun (Auckland), Volume III, Issue 755, 30 August 1929, Page 8

ABOUT SOME FIGURES

Sir,—

I am writing this to ascertain if the ratepayers in Roskill centre realise that the eastern boundary for the proposed drainage scheme is Three Kings Road. A number of ratepayers whom I Jave been in touch with imagine, as I did, that Parau Street was the boundary. This means that, from Parau street along Mount Albert Road and Three Kings Road, a distance of roughly one mile and a-quarter 12 houses will be served, and the country all the way is full of stone, and will undoubtedy prove costly to work. Areas to the south and east of the above roads are out of the area, and they carry the bulk of the population of Roskill Central as well as being out of the stone belt which girdles the mountains.

Recently certain members of the board were bewailing the fact that the ratepayers were so apathetic toward loan proposals. They are. But to my mind it is the bounden duty of the board to conduct a series of explanatory meetings throughout the entire district, commencing, say three weeks before the date of the poll—abo, d^ ressln s: a couple, as they do about four or five days before the fhm?,d a b Sta a ke ' A,SO ’ the meetings should be advertised by other means

than a scant inch in the daily papers. I have by me an advertising circular issued personally by one of the members, setting forth a financial statement of the loans. Ido not profess to be a financier, but the figures set out seem to bear a striking resemblance to the “seventy millions-’* One point in question: The amount required for Three Kings Road i®* roughly £20,200. Included is 1 per cent, brokerage, and £2O for printing. Interest is charged at £1,555, which if my homely methods of computing interest are correct, works out at approximately 8 per cent. All I can say is, if this is the case, the sooner our budding financiers take a course in the “Art of Borrowing” the better. I may be wrong. If so, I stand to be corrected, but in future members will be wise if they refrain from committing to print figures and statements that are apt to be misleading. Some years ago, when the Dominion Road proposal came along, certain leading lights in the west agreed that if the centre supported them, they in turn would do their utmost to assist in carrying the Mount Albert and Three Kings Roads concreting loan when the time came, and as the centre turned the tide for them, I trust they will honour their word at Saturday's poll. VNLOOKER.