The Daily News MONDAY, JULY 26. THE PROPOSED BOROUGH LOANS.

Taranaki Daily News, Volume LII, Issue 155, 26 July 1909, Page 2

The Daily News MONDAY, JULY 26. THE PROPOSED BOROUGH LOANS.

Particulars of the special loan proposals for the erecting of a new (bridge fci Powderham-street and the purchase of land for Gill-street extension respectively arc now being placed before the ratepayers; and with regard to th? latter scheme lithographic plans of the alternative routes are 'being circulated, and should assist materially in •enabling ratepayers to .thoroughly grasp the relative merits of the propositions. Regarding the Powderhani-etreet 'bridge renewal we 'have already expressed tur opinion. The work is an urgent one, and its initiation cannot be any longer delayed, in the interests of traffic and public convenience. Previously we urged that the original scheme outli;: : by the engineer was too ambitious a . costly; the plans have since been nioi.i fled and the 'estimated cost considerably reduced. The plan provides for a thoroughly substantial structure, and • the Council's proposal to "borrow £3OOO for the carrying out of the work should be approved by the ratepayers.

With regard to the Gill-street extension proposal the issue is not so clear. The wisdom of making provision for a street connection between Gill-street and either St. Aubyn-strect or Brougham street is undoubted; and it can only be regretted that the ratepayers were so short-sighted in earlier days as to veto a proposal that would have provided the street for about as many hundreds of pounds as it will now take thousands. Although there is no immediate pressing necessity for the new street, the soo7ier the land is secured tlie cheaper will be the ultimate cost to the borough. The Council lias had before it 'three oilers from the landowners in the vicinity, providing three different routes. These may be numbered 1, ■>, and 3 for the purposes of ihis article. Xo. 1 is that providing a more or less direct continuation of St. Aubyn-street, and known as Messrs. Newman and Nolan's scheme. The cost of the land necessary for this street would be £3BOO, which the vendors agree to take in borough debentures. The cost of the bridge and street formation is estimated at £IOOO, making a total cost of £4BOO. Xo. 2 scheme, Messrs. Berry and Mcintosh's, necessitating, as it would, the acquisition of the land upon which Mr. Berry's business premises are erected and their reerection on the new street, as well as the purchase of a strip of .Mr. Mcintosh's land, would be much more costly. Mr. Berry's price is £OOOO, and the total cost of the scheme is estimated at £7320. The advantage of this scheme is that it would provide u straight street connecting Gill and Ariki streets, but it is a question whether that advantage, great as it is, is worth the extra cost as compared with the other schemes. Xo. 3 scheme, Mr. Mcintosh's, involving the purchase of , the Tarnnaki Hotel premises and the utilisation of the right-of-way at present existing between the hutei and Mrs. Skinner's property, is. from a linancial point of view, the cheapest under offer. Mr. Mcintosh asks. L 320() f O ,. his property, but Mrs. Skinner has offered a contribution of £101) towards the scheme, making the actual purchase price £3130. It lias been rumored that there is a probability of Mrs. Skinners contribution being increased, still further ' reducing the cost to the ratepayers, lint as it stands, Mcintosh s scheme, .including the cost of the bridge ami street formation (£1100). would involve a„ outlay of £4250, or iooO less in capital cost than Messrs .Newman and Xolan's scheme. Mr. Mcintosh also agrees to fake the pur-chase-money in borough debentures. Lnle>s however, suitable arrangements should be made for the cancellation of the present lease of the Taranaki Hotel Premises, the Council would not need to take possession of the iironertv for four years. This we regard as a'very considerable advantage. sc>S\iw il "" «'«»'Htclv essential that ilehnite provision slnli |„. made for Gill-strect extend , t u 3»7z-tri totlHMitn,os„fitr!b| t v Th SOUWeS t".—, is between^ a et:"e;, , it d ' :, ? OUK, ' tlte T ii -' Pf ««»<* ** the firmer, "<- ii nk the hnancial advantages of otX of r ,mdeut »»P°"^ w 11, 1 -r. .™ te l'».vers disagreeing t U !Jt,totat, totate «' In (i,„ i ■ ' scheme agreed :tr»' «ould be°pai bent s°- 0 "h'tVrtY °"'?° d °- tlie dii,. f u to bo I ,ai(l from Xo tl '" U ' ChilS<! ' In tllu <*se of No. 1 Scheme. X 0.3 Scheme. Iv 11 ; 1 "/• ? 800 3150 1 • <"> .etc. imo ]10() , J"I crest .. 7((o _

ioi„i £ r,rm . min I m'f „"- U " ) I "'' ; lf fnrl - the cliHjmritv ! h ..),• interest on tlie .tloon «n.,t of " ''- "J' 1 stm 't formation in Xo. 1 cw •"' ;r " ,,ist """""• «>«t u„ • K ...loptwl, w.mNl go on with the »oikonce The question, therefore. si no I" 1 ' Ill ° " ltf l». w « »'ould l,e n le, I, '! ft™ 1 * C ' :ino «<Wili«nal in oiil . i],at tin- new street slioul.l lie finite r S< " nt <,o "' ,itin " 0f I,oro »ffl' linn.iTOtl.at. money might with tiie ZZ H , " U '" ,( ;'??'' »" "«ii«'d on other tlio OilLstrcot <\ren*.m ~„t ,„ |, nml tI f ?oars-hence, when it will most wrtain , he re 0 ,,,re,l There is another point tat i"„M „„t ho overlooked; that is. that tie 1.0ver,,,,,e;,t reserves the right to .i i..nk.-hunt. No. 3 scheme, bcin.r fmher away from the railway vim's would not he likely to have that ineor,' > lenience o vehicular trallie. The Coun-■-H. in p aenig its borrowing proposals More ho ratepayers, has £ name,! fro,,, mentioning any particular scheme | t wil , thm f • P «»' ordor for the ratepayers, at thT meet tiff to bo held ,„ the Council Chambers «n I.lth August to move m favor of ""Withstanding that the lor No 1. Having the plans of the vanno. schemes before the,!,, the rat'^yen • Ik"Tl "", ; 'l" ,siti "" to thoroughly «''iKh ho advantages of each. Vo ',,, i " ,k " !l ' l ( ' l ",' lv opjmrlnnitv of ree oiro!-s ,x ' ";i' ~,istiv «*' mpn . u\L olleis. Everyone will a^ree '•'Th"'!'- lat ll ',° strai « ht st,wt : '» the best, couhl ,t W earrie.l out at a cost approxnnating more closely that of tile alternative routes.