Water Supply Committee.

Thames Star, Volume VII, Issue 2783, 15 January 1878, Page 2

Water Supply Committee.

The adjourned special meeting of the Water Supply Committee was held "at the Borough Council Chambers yesterday afternoon. There were present — His Worship the Mayor (chairman), Messrs Brodie, Read, Price, McGowan, and Thorburn.

,The Chairman stated the business which called them together, and read the letter from the solicitors of the Bank of "New Zealand, which we published yesterday. Mr Bead said that a new committee would be appointed in February, and he thought that the matter should be postponed till then. ......,....,,.. . Mr Trice said he thought that it would be only lair, when under them most of the liability had been iucurred, that they should see the matter through.

The Mayor, quoting from a paper in his hand, said that the following was a rough statement of their financial position, which he had prepared from facts supplied to him; and which he believed to be correct:—.Assets : Plant (valued in 187G), £3000 ; - subsequent extension, £1259 ; rates due, £112 12s lOd ; plant through Morrin, £1000; do., £000; total, £6571 12s lOd. Liabilities : Capital debt (Morrin), £2000 ; do., £700; Hank overdraft, £490 0s 10d ; total, £3196 0s lOd. The annual income was—Kates, £800; while the annual puyments amounted to—lnterest on £3196, £255 14s; working expenses, £500; total, £755 14s. The immediate liabilities 'were —Bank overdraft, £496 0s 10d; and work and material, £83 19s 2d; total, £580. There was also a liability in the form of a Government claim lor iron plates, amounting to £87 4s. He said that the interest on the £2000 did not

become due to Messrs T. and S. Morrin until the pipes, &c, represented by that sum were delivered.

Mr Price s»:d that a good deal of the money recently borrowed had been spent at Irishlomi and other districts which bad given no return. Mr Brodie said that £150 would cover the amount spent* on those uuremunerative works. It was no use, however, to speak about what they had done; they must see what they were goiug to do. Mr Price said that it would have to be handed over to one of the local bodies, and they know which it should be.

The Chairman said that the Borough Council, as far as the revenue derived was concerned, was entitled to seveneighths of the affair. Mr Price moved that the whole matter be referred back to Borough and County Counci's to see what they could do. Mr Thorburn said that he had been under the impression that they could borrow a large sum of money. Mr Head: We have the power to do so.

Mr Brodie said that they were -receiviug their punishment now, and they deserved it. To servo out certain other bodies they had reduced the rates too low.

Mr McGowan said that he thought that the remark was unfair.

The Chuirnian thought that a committee should be appointed, and that would be the first thing to interest the County and Borough Councils in them.

Mr Read thought that in referring the matter to the Councils they should give aooio suggestions. Mr McGowan moved that Messrs Brodie. Head and the Mayor be a committee to see the manager of the Bank of New Zealand and ask him to suspend action until arrangements can be made. Carried.

Mr Price moved that the Mayor, Messrs Thorburn, McGowan and the mover be a committee to draw up a report to be submitted to the local bodies.

This was carried, and the Committee adjourned.