TRUST LANDS TRUST ELECTION.

Wairarapa Age, Volume XXXII, Issue 10245, 23 May 1911, Page 5

TRUST LANDS TRUST ELECTION.

ADDRESS BY MR 0. PRAGNELL. AND MR PAULING. Mi- 0. PragneU, one of the candidates in the iVLasterton Trust Lands Trust election, addressed between forty and fifty voters in the Town Hall last night. Mr T. Waggj chairman of the Trust, occupied the chair. Mi- Pragnell .stated that three years ago lie contested a seat on the Trust on one question, viz., tlbe exchange of sites. He and Mr Robinson defeated tAvo sitting members, ami changed the minority in favour of the exchange,into a majority. The Trust, he thought, should be taken inore interest in by ithe public. It was established on a democratic foundation. Tlie whole of the Trust endowment was for the benefit of the resLleiHs of the Borough of Mastorton. Three years ago he endeavoured to dhow that each voter had an interest in, the Trust. Mr Pragnell stated that there were 3415* voters, and the Trust property was worth £40,000, so that each voter's interest arao i>M«>d to> £ll 14s, If, as- some slid, the value of the property was £-30,000,. the interest of each voter woud pe £l4 12s. With, regard to his sttwardshdjp, Mr Pragnell said he ha<* missed, only about one meeting a jeav since he was a Trustee. He bad been responsible for the framing of the standing orders of the Trust. Speaking on education matters, he said) he agreed wifih the cha:rman that tlie small schools' should be assisted even more than big >chooii3. The Trust spent £l5O in 1909, £2OO in 1910, and £l7O in 1911, to help scholarship winners to pursue their studies. It had been.stated that the scholarship fhmd had gone to ihe bad. Evien if it had, the child >\m of the Borough had benefited. Mr Pragnell spoke of the* Trust's '.-i«sistance to technical education. 'lhis was a good object, in that those who had to work during the day \v<ar>> given an opportunity to attend a iechnical school at night. Spea'ihig of the establishment of a permanent institution, Mr Pragnell said that many points would have to I.e. considered. If a college was -rented,'

■ outsiders' fees would have to- Im> i djusted: different to. iihose for ■ sHiohu s , from .within the Boroiigh. It bad been said that'the Trustees had lie n pureraing a bad policy. He quoifd figure® which'showed tfce wearlrful increase in the receipt* of the Trust during the past few years. In right years the general account increased by nearly £IOOO, being about 2 )0 per cent., and in the saane period the increase in the scholarship account hsd been £152 10s. Mr Robinson ha-1 said: something about a loss on ibe

Town Hall account. It could hardly be expected, that the Town..Hall account would show anything but a

loss, but the benefit of the hall to the pubOic had to be taken into c<nsideration. The Trust had, during the year, converted £950 into assets. There was a. debit balance of over £6OO, but with .the assets ihe year's working showed a oreddt balance of £291. The Town Hal reserve had not been expended on the general account, but was- intact in a Building Society. He could not understand why Mr Robinsonj' had said the accounts of the Trust were on an unsiatdisfactory basis. Referring to th© building policy of the Trust, Mr t Pragnell said the people baa agreed to a loan of £IO,OOO to put up buildings on their best lands. The loan had been, made use of, and at the present time the Trust did not have ,power to continue building houses on their pix>perty. The income from the Trust's buildings had : easily paid the -interest and sdnking fund, and left a very substantial profit. It was undoubtedly a good policy to build, as the profit was-much greater than it wa# on the land alone. Mir Pragnell referred' .at length .to the benefit* the town had derived as a result of the policy pursued by the Trust. He favoured 1 lighting the Town Hall with electricity. The Trust was now a benefit to the present generation, and the speaker felt certain that it would also benefit the future generation. In conclusion, Mr Pragnell thanked the audience for their attendance, and he trustedi v that his past efforts warranted hi® being elected again. The chairman invited other candidates to use the stage.

Mr Pauling isaidi he had taken an interest in the Trust, and he felt satisfied that it was a good msftitution, and could be made still moreuseful. Thiere were several small maitters which he thought might be improved. He offered himself as as candidate for the purpose of pushing along the people's interests. Ma* Robinson gthanked Mr Pragnell for his offer of the use of the stage, but said he would content himself by asking Mr Pragnell if he would agree to having his (Mr Robinson's) figures and deductions, which had been questioned by Mr Pragnell, referred to Mi- J. B. Keith for a test of their accuracy. Mr Pragnell said if Mr Robinson could not rely on Ins own ability, lie had no objection to his consulting Mr Keith, but the speaker did -not. wish to have anything to-d» with the bringing in of a third party. Mr' Pauling said the accounts of the Trust had been audited, r.nd should be quite correct. The- chairman moved a vote 'of thanks to the speakers. Mr Damiell seconded the motion, and in doing so congratulated Mr Pragnell on the son-eke way in which he had put the mates of the Tract before his audience. TJhe resolution was carried. A vote of thanks to the chairman concluded. the meeting.