THE BOROUGH LOAN.

Gisborne Times, Volume XXVII, Issue 2692, 23 December 1909, Page 7

THE BOROUGH LOAN.

REPLY FROM THE PREMIER

Yesterday morning the following reply was received from the. Premier by the Mayor (Mr. W. D. Lysnar) re the loan-authorised by the ratepayers: “Your telegram re decision of ratepayers giving authority for loan of £175,000 to hand. As soon as leigslation is through it will be necessary, of course, to have application sent to Board. Consideration of matter cannot be given until then.”

Yesterday morning the Finance and Works Committee of the Borough Council met, and preliminaries regarding the proposals were considered. It was decided to recommend the Council not to do anything about the trams or electric lighting until after the engineer is appointed. A The duties and salary (£500) of the engineer were fixed, applications to be in by January 25. The engineer is to be a mechanical as well as a civil engineer.

It was decided to cable to England for the pipes necessary to do the extended! reticulation work of the borough. Tenders are to be called for the construction of the road to give access to the Gentle Annie quarry, tenders to be in by January 12th. The Finance Committee also authorised, at a cost of £l3O, the ordering of the parts necessary to convert the road idler into a traction engine for metal haulage.

Apparently the Napier people are not so sanguine as the Mayor of Gisborne in regard to the ease of obtaining a loan through the Government. Writing last week, the “Hawke’s Bay Herald” said:—What seems to us most likely is that the Premier will not feel justified in considering a single loan of £135,000 out of the moneys at his disposal He has stated that applications are coming in at the rate of £12,000 a day. In that case, it is pretty certain that th© money in hand will not be sufficient to meet all claims. The smaller demands will naturally be met first, and w© may therefore find that in the end we shall have to go to the London market.