IMPROVING THE SEASIDE.

Taranaki Daily News, 16 September 1916, Page 4

IMPROVING THE SEASIDE.

Few if any of the coastal towns in tnc Dominion have such a magnificent asset as is represented by the ocean front of >ie\v Plymouth, and it is only in recent years that this fact has been discovered by townspeople. Much has been done during the past five years by the three seaside committees. Now the Ngamotu enthusiasts have devised and are sub' mitting to the public schemes for making the beach a pleasure resort attractive alike to the residents of the town and visitors from beyond. A limited liability company with a nominal capital of £SOOO in £1 shares has been promoted in order to carry out the work of converting the present wilderness into a veritable playshore of the Pacific. The object of the company is to erect cottages, • provido bathing pavilions, tea kiosk, and various adjuncts tending to enhance the pleasure of visitors. In other words, to popularise the beach and not only make it part of the daily life of the inhabitants of New Plymouth, but to make our incomparable foreshore a source of attraction for visitors not only from other parts of the province but from the whole of the Dominion. It is estimated that the expenditure involved in carrying out this scheme will amount to £3OOO, and it is proposed to borrow that sum on the security of the buildings and uncalled capital, the ground being held from year to year under license from the New Plymouth Harbor Board. The revenue anticipated is put down at £O4O, of which £4OO represents rentals of cottages and £l5O from the bathing pavilion, water shute, etc., the tea kiosk being estimated to return £4B, other sources producing £42. Interest, rental sites and insurances are set down at £240, leaving £4OO available for paying off the principal. Shareholders are to receive sixper cent, interest on paid up share capital, but there will be no promotion charges, no remuneration of directors, and no commission or brokerage on shares. A notable provision is that whereby when all the liabilities are paid off the company will be wound up and the whole of the assets handed over to the Borough Council for all time. The project is one that should recommend itself to all who have the best interests of the town and district at heart. Hu promoters are to be congratulated on launching the scheme, and the public should testify their appreciation of this praiseworthy efiort by a liberal response to the share capital.