MASTERTON TOWN LANDE TRUST.

Wairarapa Daily Times, Volume 4, Issue 1014, 4 March 1882, Page 2

MASTERTON TOWN LANDE TRUST.

The ordinary,.monthly meeting of the above .Trust was held at the Counoil Chamber! last evening, ■ . Present: Messrs Feist (Chairman), Hare, Perry, and Wrigley. The minutes of the previous meeting were read and confirmed. A letter was read from the Education Board, stating that the Board's solicitor had been instructed to prepare conveyance of new school site from Trust to Board. Mr Hare moved,' . by Mr Wrigley, and carried—That Mr Bunny be instructed to prepare the old school Bite from Education Board to the Trust. . Correspondence was read from the Wellington Trust, and Loan Company, the Wairarapa Permanent Investment Society, and the Masterton Building Sooiety, re loan of £4OO to pay Education Board... The offer of the-latter.Sooiety was accepted. " A deputation from the Borough Council comistinsi of-Ore Cae'elberg, Price, Gappor, and McCardle waited on. the Trust with refeieiceto continuing grant to Library. OrCaselberg, whoaotedas spokesman for the deputation, explained their object. They had been appointod a oommittee by the Council to enquire in the position of the Institute, which they had done, and made a report, a copy,;of .which, had been forwarded to the Trust, The Council had adopted their report, and they were appointed to wait upon the Trust. The minutes of : the Library Cqmmiftee showed: that jt itia'dJbeen 'subsidised; and they ffished to know if the Trust would be prepared to continue the grant if the Borough Council, as proposed, took the whole aftrir over. There had been some objection made to the proposed plan, one of which was that a good Library Committee was not likely lo be elected. This was a fallacy, as the ratepayers had elected the Borough Council, the Town Trust, and o'her bodies, which plainly indicated that they "were capable 'of selectiiis; the best men. Betides, under this scheme the Borough Council had t,he power to vetoany improper person. The Mayor and Chairman of the Town Trust being members of the Institute Committee would guarantee good management, , The intention of the. promoters of the movement was not antagonistic to, the .Trust, but to improve upon the Institute, as there had beei great dissatisfaction expressed. The deputation did not ask for more than the Trust had bien in the habit of paying the Institute. It had been proposed to borrow the necessary!: min'ey'for-14 years, which would event imlly Extinguish the debt, and the rates could be uaod for improving the institution for''edricational;' purposes, which really came under.the province of the Trust.- An objectidn'had been raised to borrowing from a Building Society, as they could not legally pay more than 7 per cent., and they could not borrow from a Society for less than 8 per cent, He had interviewed the banks, who were willing to lend the money at f per cent, on the Beourity of the rates for five years. The interest would amount to A'2B per annum, leaving i' 22, if the Trustees would continue the grant of £SO, to form a sinking fund, When the five years had ex pired it would be a very simple matter to make fresh arrangements. He sincerely hoped the Trust would favorably consider the proposed scheme, as it would have the effect of greatly improving the Institute. The other members of the deputation fully endorsed what Or Caselberg had said, ; The Chairman thought the proposal a very good one.. So far as the .Trustees were concerned they mußt oonsider their financial position. They were about to make arrangements for borrowing money to pay off the amount due .to the Education Board, They also Had the Park Trustees and the Sohool : Committee to provide for. He was entirely in. favor of the scheme, and they Bhould make an effort to carry it but, as this was one of the principal objeotßiJor whioh theTrushad|been constituted? He had a notice ,otmotion to" pay £3O arrears of grant, andcontinue the grant of M, whioh he •thought would meet the object of the .deputation, and he would move this,

MrHare of the Trust should pe appointed to go into ways and means, and gave a sketch showing their inpotne to be JE24I, and tljejr expenditure £299. ; ;j . ' : The clerk pointed out that the income would be 1300, ./■ ■:;;/ -The chairman said their rents would increase which would of course raise their income. The school residence would also increase their income. He thought with Mr Hare that they should not decide hastily, but they were in a good position, and the ratepayers would certainly endorse their action. Mr Hare was in favor of making the grant conditionally. Mr Oaselberg pointed out that the. Trust had promised £6O per annum under the existing arrangements, but they only asked for £SO. Under the proposed scheme if the Trust were at any time short of money they could make up the amount whon they had plenty, but they would want a guarantee of L2B per annum to pay interest. There need not be any difficulty whatever between the Borough Council aud the Trust. - ; Mr Hare thought they should appropriate borough rates for the purpose; .. Mr Oaselberg ahowed that this would impair the efficiency of the Institute. The object of the committee was to improve the Library. Mr Hare thought the subject should be deferred until after the next election, as their aotion might then be repudiated. MrMcCardle pointed'out that they had been appointed by the Council to get a decided answer as to the intentions of the Trust. The Borough Council had not the money and could not do anything without the assistance of the Trust. The future of the Trust meant thousands of pounds per annum instead of hundreds, and he was proud to think such an insti-' tmion belonged to Masterton. He hoped the.Trust would give a decided and favorable decißien. To bring the institution into a healthy condition they must have the support of the Trust. The Chairman could not see any advant- ! age in appointing a committee as they knew their position.. Mr Hare's proposal to defer the matter till after the next election would only delay the Borough Council unnecessarily, and thought the question should be deoided that evening. . After a long discussion in which MiHare spoke very strongly against the movement, and was ably replied to by Mr Oaselberg, who pointed out that they had three other bodies to deal with and consequently wanted a deoided answer, the ohairraan moved, seconded by Mr Wrigley -That the sum of £SO per annum asked by the deputation be granted.' This was carried, Mr Hare voting against it, Mr Oaselberg thanked the Trusteos for the patient hearing they had given him, and for. the favorable consideration of their request, feeling sure the ratepayers would endorse their action. The deputation then withdrew. A tender was received from Mr F. H. Suitou for sections 1 and 2 of town aore 49 for a term of 21 years, whioh was accepted. Mr Hare moved his notice of motion—■ " That the occupiers of the pound deliver up possession of same, or make their title clear," whioh was carried,. Mr Hare also moved his notice of motion for a return oi lauds given to the Borough Courcil for street-widening.— Carried, Accounts amounting to £22 10a were paHEGcI for payment. The Clerk was authorised to procure copies of all the Acts relating to the Trust Lands. The next meeting night falling on Good Friday, it was decided to hold it on the Thursday previous. The meeting then adjourned,