MASTERTON TOWN LANDS TRUST.

Wairarapa Daily Times, Volume 6, Issue 1676, 3 May 1884, Page 2

MASTERTON TOWN LANDS TRUST.

The. ordinary monthly meeting of the 1 Mastei'ton Town Lands Tjjust was held last evening. Present—Messrs Hare, Perry, Muir, dapper; and Bish. •

The minutes of the previous meeting were read and confirmed.

The leturnins; officer reported the return of Messrs Jas. Muir and Walter Perry at tho recent election. Mr Gappor moved that Mr Hare take the chair for'the ensiling year. Mr Muir seconded the motion, which was carried. , Mr Hare thanked the Trustees for the honor tliey had conferred upon him.' He was sure they . would give him every assistance in the discharge of his duties, and that their Clerk also would help to make them light, The Treasurer reported a credit 'balance of £194105. He stated that the ; Greytown rents had been received; also a sum due from the Government for interest. ■

The following accounts - were passed for paymentJ. Pay ton k Co., £6 2s Gd, and Smith & Hogg £slos. ; Correspondence 'was read from the Uroytown Trust vc clause in Masterton annual report reflecting on the Greytown Trust ro transfer of town belt.] The letter. said this matter has been in the hands of their Solicitor for six months, and the Greytown Trustees were anxious to complete' itT as early as possible, and intimated that the release had been forwarded to Mastei'ton for signature. ■ The secretary reported that he had received the draft conveyance from Greytown for signature..; On tho motion of Mr Gapper the Chairman and Secretary were authorised to peruse the draft on behalf of the Trust prior to it being engrossed. Mr Gapper said they would have to entertain the idea of reinvesting tho £250 they were to receive from Greytown.

Tho Chairman thought they might invest £3OO which would, at 8 per cent,, give them an income of £24 per annum. They might instruct their Secretary to invita offers for such a sum,

Mr Muir asked if the £250 was not to be invested in real estate. . The Chairman: Yes! Mr Muir: Does not that mean investing in tho purchase of real estate 1 Tho Chairman: I do not look upon it in that way. The word " purchase" is not named! . ; The Secretary said the question might arise whether" investing in real estate" was equivalent to "investing on real estate." Mr James Muir thought the present time was favorable for purchasing property,

Mr Gapper thought they would only get 5 per cent, if they purchased now. Mr Perry suggested, putting the money out to interest for twelve months, aud in the interim looking out for a suitable investment, It was decided to defer consideration of the question t ;i l next meeting. 1 . The Chairman reported tliafc Mr Coker's tender was accepted for painting the cottap) i'.i D :, :on-street at the sum of £4 l(k

Mr Gapper proposed that the work should be carried out under the supervision of Mr Muir.—Carried.,

The Committee appointed to see to the alterations in the old schoolroom, reported that'they had passed the work in the alterations to the old schoolhouse and that Ihey had sold to Williams & Barker the waste material for the sum ten pounds. The report was adopted. Mr Gapper said that at the last meeting it was resolved that the building should be panted. He reminded the Trust that it had bpcn arranged uith Mr Baynton that the question of painting should stand over till it was settled whether an extended lease would be taken up, This understanding had apparently been overlooked at the last meeting. He believed that the-Army was very well satisfied with the arrangements made, excepting the provision with respect to painting.

The Chairman said it would certainly be a breach of faith to insist on the clause which they had passed at their late meeting, Mr Bish considered that the Amy had already secured a lease for the ten yeara.

; Mr Perry suggested that they might paint the building themselves, and recoup themselves the cost later on, when the Avray was in n position to pay it.

The Chairman said they might meet the Army in the matter of painting, if it was prepared to co-operate with them,

It was decided that Mr Perry find Mr Gapper should be appointed a subcommittee with power to act. The meeting then adjourned.