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Taranaki Daily News, 20 June 1922, Page 4

A well-known Christchurch business man who is the manager of a very large undertaking, publicly stated the other day that in every probability the companies’ income tax would be abolished next session. “There is a small balance of the £lO,OOO housing loan (£5OOO raised) unexpended,” • states the New Plymouth borough mana- ’ ger in • his monthly report, “and I would recommend that application be made to the State Advances Office for permisison to repay this in reduction of the principal, and so permit the account to be closed. One unbuilt-upon section remains unsold, and 1 think it would be well to have this levelled and an attempt made to dispose of it, either by lease or under the provisions of the Housing Act.” License-fees, etc., collected in the borough of New Plymouth during the year ended March 31 last amounted'to £2222 12s, the largest contributors being: Building permits, £721 Ils; publicans, £320; vehicles, £283 ss; fines, etc., £l4B 15s; heavy traffic, 52128 4s; auctioneers, £124; and dogs, £lO7 Ils. A comparison with the amounts raised during the last six years shows last year’s amount to be the largest yet collected. The previous year’s total was £2002 Ils 6d, and the year before that £1705 9s Bd. The total amount of the Borough Council’s £57,000 loan raised up to March 31 last was £25,900. Of this amount £16,550 has been allocated to street works, including planf, out of £42,000 provided in the loan; £6OOO of the £lO,OOO provided for on waterworks extensions; £lOOO out of £3OOO provided for on sewer extensions; while the first year’s interest, for which an amount of £4500 was allowed in the loan, absorbed £2350. This information was contained in the New Plymouth borough manager’s monthly report. A special order has been made by the New Plymouth Borough Council authoiising the raising of a special loan of £1065 for the construction of roads and streets within the Frankleigh Park area, a portion of the borough. It is proposed to raise the loan at 44 per cent, for a term of 364 years. Provision for the repayment of the loan, if granted by the State Advances Office, will be made by striking a special rate of IJd in the £ upon the rateable value of the area concerned. “Until an application for the Frankleigh Park loan of £1065 has been submitted to the members of the board of the office, I am unable to say whether or not it will lie entertained,” stated a letter from the State Advances Office, read at last night’s meeting of the council.