LOCAL BODY LOANS.

Waikato Times, Volume 121, Issue 20269, 11 August 1937, Page 8

LOCAL BODY LOANS.

ASSISTANCE FROM BTATE. 'SPECIAL FUND SUGGESTED. That the Government should establish a fund from which the capital requirements of all local bodies could be met at the statutory rate of interest was the substance of a remit, passed at to-day’s meeting of the Central Waikato Electric-Power Board for consideration at the forthcoming conference of the Electric-Power Boards’ and Supply Authorities’ Association. In proposing the remit, Mr. R. G. Young said that difficulty had been experienced by public bodies in raising loans from private sources at the statutory interest rate, and it seemed that the only solution lay in the Government providing the loans. “Waste of Publlo Money.” “ It Is nothing but a waste of public money,” said the chairman, Mr. T. llinton, in declining nomination as a delegate of the board to the association’s conference. While agreeing that much good work was done at the secretaries’ and engineers’ conferences, lie said that the main conference consisted only of lengthy discussions which got nowhere. The secretary, Mr. H. J. Beeche, said that the secretaries’ and engineers’ conferences had certainly proved of great value, particularly last year when much good work had also been done at the main conference. Mr. Beeche and the engineer-man-ager, Mr. J. R. Ellis, were authorised to attend the conference. From the secretary to the Auckland Provincial Employers’ Association was received a copy of the agreement reached in the Northern Industrial District Local Authorities Officers’ dispute and the secretary advised that the wages increases fixed by the agreement would cost tlie board a further £297 per annum in addition to the increase fixed at last meeting. There were present at to-day’s meeting Messrs. T. Hinton (in the chair). J. J. Ryburn. S. S. Saulbrey, N. Reid, W. G. E. George, J. A. Sampson, R. G. Young and G. Smith. The secretary and the engineer-manager were also present.