The Wairarapa Daily. SATURDAY, SEPTEMBER 13, 1879.

Wairarapa Daily Times, Volume 2, Issue 264, 13 September 1879, Page 2

The Wairarapa Daily. SATURDAY, SEPTEMBER 13, 1879.

We regret that the Borough loan question wan not more fully discussed.at the meeting held on Wednesday evening last,. and that it was taken for granted that the loan already authorised exhausted all speculation on the subject. In the latter part of the year 187,7 the .Borough Council of Masteri ton were authorized to issue debentures to the amount of £BOOO for sundry public works. These debentures have been unsuccessfully offered in all quarters, and are stamped with a long succession of rejections both in and out of ■ the colony. The purposes for which they were issued two years ago are also materially changed. Many works then required are now unnecessary, and very many more which were not then thought of are now very desirable. The schedule of works when first drafted was an admirable one, and did credit to both the Council and its engineer ; but it would be absurd, after two years of rapid progress, for a place like Masterton to fall back on the original schedule. The £BOOO loan, though carefully devised by the Council, is none the less a failure, and it would have been far better to have allowed it to have been forgotten and not have dragged it up again on Wednesday last as the only alternative which the Borough could adopt, Such an alfectionate clinging to an unsuccessful financial venture we. never witnessed, Are the two-year-old debentures, to bs kept travelling round the world till they find a market, and is Masterton to wait till the egg laid in 1877 produces the desired chick 1 We would have like to have seen the question raised whether a new departure would not be preferable. Whether it would be not wiser to make a new schedule of the works which are now requisite, and float a loan suited to Masterton in. 1879 rather than in 18771 We think an estimate should be made of what works are now necessary, and that the amount of any proposed loan should be based upon such calculation, The position of Masterton as a borrower is much improved since 1877. Its rates are doubled, and it has now a contingent security in tin; shape of 800 acres of land at Eketahuna and the Immigrant block on the Waipoua. A threat has been held out to ratepayers that if they. support a large loan their rates would be doubled.. We think, however, the Councillor who made it could not have gone into figures at all. Supposing £20,000 were raised —£lo,ooo for roads, and the balance for water, gas, and drainage. The interest on the latter sum would be met by ordinary payments for the gas and water consumed, and if the interest on the former amount be estimated at £7OO a year, would that amount absorb all the rates and leave no money available for repairs of roads and working ex-' penses ? The works to be constructed would probably extend over a period of three years, and the charges for interest in 1880 would bo say £250, in 1881 £SOO, and not the full amount till 1883. The probable rateable value of property in Masterton in 1882 would, we think, bear the burden of £7OO a year. We do not; advocate spending £IO,OOO on roads if that sum be not required, but we do advocate not being tied down by .the schedule of 1877.

Wo recommend that an estimate of the requirements of Masterton should bo made now, and though we do not expect the result to be £IO,OOO, we prefer taking that sum as a maximum to show that the Borough is likely to be strong enough to bear a loan of such a magnitude. We consider the question of a loan is not altogether bottled up by ihe action taken in 1877, and that it will do no harm to ventilate it a little, The few arguments which were adduced ou Wednesday evening last seemed to us neither satisfactory nor. conclusive. .It appeared to us that some members of the (Jounci! made an elfort in 1877 which did not succeed, and now they thought that no further effort could be expected, and that where they had failed no one else could succeed.

A telegraph station is now open at Wyndhain, in the county of Southland. A meeting takes place at the Club Hotel, Masterton, this evening, to form rules for the coming shooting match. Mr 'JI. Gray's tender for labor for the building of the Wesleyan Church, Greytown, has been accepted, We hope there will be a good attendance at the meeting of the Horticultural Society, this afternoon, Messrs lorns raid Fcrgusson hold a 3ale of furniture and sundry effects, in the Town Hall, this afternoon. F. H. Wood and Co., have a general unreserved sale at their auction rooms, to-day Mr W, liell announces in another column, the opening up of his spring and slimmer novelties.

Yesterday, Sergeant McCardle handed over to the Borough Clerk, the Immigrant cottages on the Waipoua. The Greytown Volunteers, we heai, are drilling twice a week to make themselves thoroughly efficient by the 9th November, when they intend to take part in the review to be held in Wellington on that clay. We hope our other local corps will try and do the same. The following are the names of the football team from Greytown which are to play against Carterton on this clay week at Greytown :-Fonrard: Messrs Cuff, H. McMaster, Cameron. Webster, Humphries, Porter, Wintringham, Gregg, and F. Tully. Quarter-backs: W. Hirschberg and J. McMaster. Three-quarter-back : A. Hivschberg. Half-backs: G. Tully and T. S. llomudson. Goal: Cobham.

The I\ T ew Zealand Times reports that A Maori ratepayer, resident in Thorndon ward, yesterday went to the booth for the purpose of recording his vote, but he appeared to labor under some doubt as to whom he would vole for, though he was understood to say that he intended to give his interest in favor of Dr Featherston, He could not, however, be induced to believe that gentlemen was deceased, and that lie must vote for the living and not dead. As it happens Dr .Newman is a relative by marriage of Dr Featherston, tiie Maori's vote ultimately was given in his favor. •

At tlin wool sales London, Sebtetnber 9 9100 bales were catalogued. The tone oi of the market shows that there is bill moderate enquiry.

•' What do you know of the character o Hi is man !" was asked of a witness at a police court the other day. " What do I know of his character I I know it to be mibleachablo, your honor/' lie replied with much emphasis.