Wairarapa Daily Times. [ESTABLISHED 1874.] SATURDAY, MAY 18, 1895. THE PROPOSED TOWN HALL.

Wairarapa Daily Times, Volume XVI, Issue 5029, 18 May 1895, Page 2

Wairarapa Daily Times. [ESTABLISHED 1874.] SATURDAY, MAY 18, 1895. THE PROPOSED TOWN HALL.

1 Both sides of the'l'own Hull question ; were fairly argued on Thursday ; evening by Mr Lowes and Mr A, W. Hogg, and the verdict of the meeting went with the latter. The disi Mission has done good, and it is possible that the extreme views on i either sido may bo so far-modified i that the expressed wish of tho I annual meeting can be carried out. It 1 is perhaps as well to go into the project a little more in detail in | order to form anindependent opinion | as to the cost of it to the Trust, In i the (|rsfc plaoo we consider two I thousand pounds would be quite < enough to borrow for tlip erection of ' a Hall. Certain annexes tq it might \ bo convenient, but in order to keep { tho debt within reasonable limits j they should for tho present be 'j postponed. Tho annual charge for c interest on £2,000 would, we esti- 1 l mate, be about £l2O, and for t insurance and maintenance, about 1 £BO, This would mean an annual ! expenditure of £2OO, the whole of , which might reasonably be expected to bo defrayed from rpn|;a]s. Sp far, g the enterprise would bp selksuppqrt- o ing, but there is another asppefc qf p tho question, and tlmt is tho repy. £ ment of the borrowed principal sum " of £2,000. This would undoubtedly '' bo a charge against the ordinary ' revonue of the Trust. To extinguish JJ the debt, the Trust might allocate - , out of its revenue, £6O per annum k

for twonly yearn, or £l2O per annum for ten years. From our calculations, wo get the broad fact, that to obtain immediately, a suitable hall, tho Trust would incur a liability of contributing either £6O a year for twonly years, or £l2O a yonr for ton yoars. At tho end of the ton or twenty years, as the case might bo, it would havo tho hall on its hands froo from all charges for principal and interest and worth to it a rovonuo of say £2OO per annum. For ten or twenty years the Trust would havo to sacrifice income, but ultimately it would derive a good rovonuo from tho undertaking. Cnn the Trust afford to allocate from £6O to £l2O a year, for a given period ? Wonro of the opinion that with its rising revenue it can, otherwise wo should not advocate tho present proposal. We hope those who are interested for and against tho proposal will check tho figures we havo given, and if we have made any mistake in our estimate, tlioy will point it out. The question cannot be prudently determined without careful calculations as to the sum required to bo borrowed and the cost to he paid by the borrower. We are not in favour of the project uuless it can 1)0 shown that the sum borrowed can bo repaid within areasonahleperiod without distress to thcannual iucoino of the Trust, We quite agree with Mr Lowes that Town Halls are not dividend paying concerns, and it is for this reason that Masterton's only chance of getting one is from a public body like the Trust. It will not pay to build one us a private venture, but there are certain indirect advantages connected with such an undertaking that makes the present proposal a proper and prudent investment for a public body in (he position of the the Town Lands Trust,