THE QUEEN STREET FIRE.

Wairarapa Age, Volume XXXII, Issue 3195, 21 May 1909, Page 6

THE QUEEN STREET FIRE.

THE QUESTION OF REBUILDING. SPECIAL MEETING OF THE TRUST LANDS TRUST. SHOULD THE LAND BE LEASED? A special meeting of the Masterton Trust Lands was held yesterday afternoon, the business being to discuss the question of rebuilding the Trust's premises in Queen street destroyed by fire on Wednesday morning. There were present Messrs T. B. Michell (in the chair), C. E. Danicll, R. Krahagen, E. G. Eton, H. C. Robinson, D. Caselberg. The CSiairman explained the objects of the meeting briefly. Fie stated that one of the insurance agents had not arrived, and it meant that the Trustees were thus hampered for a timd in their.' actions. It seemed that the leases could all be terminated. Mr Robinson said it was a question whether all the leases could be terminated. There was a doubt about the Cafe premises, and the Trustees should take an opinion on that.

The Chairman stated that another debateable point was whether the damage done to Home's premises amounted to total loss or not. Mr Robinson suggested that as the Trustees had power they should let the portion where total loss had resulted on the Glasgow systems. He thought the Trustees should not risk building on its own land, and, further, the cost would be a burden on the funds for years to come. Had the ground been leased on that system the present fire would not have affected the Trust at all. The power he referred to was contained in the Public Bodies Powers Act. The value of the land could be assessed before the leases could be put up for sale. The Chairman stated he was in favour of the Trust building on its own behalf.

Mr Caselberg said it was a question of what would be the most payable for the Trust. Mr Robinson said he was prepared to admit that as a speculation it was better for the Trust to build itself, but there was always the liability to have the Trust funds disorganised. Mr Daniell agreed with the Chairman, that the Trust should build for itself. The Trust was' there to do the best for itself, and experience had shown that in ths past the Trust's own buildings had proved good investments. Mr Jackson thought it premature to deal with one section of the land before it was known how the Trust stood in regard to the whole block. The site was a splendid one—one of the best in the Town, and the Tus-

tees' action now would affect the town for a long time to come. At the same time he agreed with Mr Robinson that the Trust funds were always liable to disorganisation when the Trust erected its-own buildings. He strongly favoured waiting to see what amount of money would be forthcoming to the Trust by way of insurance on the old building. A letter was read from Mr Home agreeing to take any length of lease of new brick premises if the Trust would erect them for him on the site of his shop. Mr Eton* was in favour of rebuilding by the Trust as soon as possible. Where the Trust had tenants on the spot ready to take the premises the Trustees would be illadvised not •to consider the offers made. He did not favour delaying in the matter, as such a course would be dangerous to the Trust's chance of reletting on such favourable terms as could be obtained now. In the past the Trust had done well out of its own buildings, arid he was against intra, ducing new styles of leases when the Trust could do better in other ways .

Mr Jackson was against the Trust binding itself by resolution at the present meeting, therefore he moved 1 that Messrs Michell, Daniell and Caselberg adjust matters with the insurance company. The motion was carried unanimously. Mr Langston, the proprietor of the billiard-room in Mr Ah Lop's premises, waited on the meeting at this stage, and offered to take a shop and billiard-room in new premises erected by the Trustees. Mr Langston agreed to put his offer into writing, the Chairman stating that an answer would be given him after Saturday morning. Mr Daniell stated that it might be desirable for the committee just set up to submit a draft plan of suggested new buildings in case the Trustees should decided to build itself. He himself did not believe that the Trust had the wide powers of the Glasgow lease conferred upon, it by the Local Bodies Powers Act, but merely a limited right, to enter into competition with its own tenants when leases were submitted for sale at the end of a term.

Mr Krahagen believed in the Trust building for itself. If the land was good enough for private parsons it was good enough for the Trust. A little risk was inseparable from almost all business ventures. After further discussion it was decided that the sub-committee draw up an alternative proposal for dealing with the land other than theTiust building for itself. The meeting then adjourned. Mr Robinson then handed in a notice of motion for the special meeting'on Saturday, as follows:—"That the Trust affirms as a principle that

the Trust should let its lands at ground rentals upon leases with rights of renewal at private valuation, and not expend moneys in erecting its own buildings, upon the ground that only by ground rental can a steady income be assured." Mr Robinson said the standing orders required five days' notice for a special motion, but he would put in the motion, and let it take its chance of being discussed.