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sE t) is 111 "N" ett> s .…

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WREXHAM TOWN COUNCIL. 0

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WREXHAM TOWN COUNCIL. 0 PROPOSED EXPENDITURE OF £ 56,000. On Wednesday a special meeting of the Town Council was held, under the presidency of the Mayor (Mr. Phillip Yorke), for the purpose of taking into consideration a letter received from the Wrexham Market Hall Company, Limited, with reference to the purchase by the Council of that property and undertaking. At the last meeting of the Council, it was decided to defer further discussion on the subject to the next meeting. In the meantime the Market Hall Company wrote saying that ample time had been afforded the Council to come to a decision on the suggested purchase, and that only fourteen days more could be allowed in which the Council should decide. The company pointed out that it must be distinctly under- stood that no offer less than £ 56,000 would be en- tertained.—The Mayor invited discussion. Mr. S. K. Benson said he had always been in favour of the ratepayers being the owners of the Market Hall tolls. He should like to acquire the property for less than X56,000, but as the company would not take less, he moved that their offer be accepted.—Mr. J. F. Edisbury seconded.—Dr. Palin considered the amount asked for too much for property which, accord- ing to the company's own returns, was only worth about £ 44,000.—Mr. Thomas Jones opposed the purchase as a ratepayer and a representative of ratepayers. The property would entail an annual loss of about £ 1,100. The company asked 921 for shares which were now on the market for X17 and, further, in his opinion, properties of this description were not aiways best managed by corporations, the con- stitution of which were continually changing. As a matter of fact, the Market Hall Com- pany's revenue had been practically stationary for the past 10 years, notwithstanding an unprecedented period of commercial pros- perity.—Mr. C. Murless said the company's revenue had been stationary because they had been working up to their full capacity. Being interested in the company, he was not going to vote, but he maintained that the property, which was purchased sixty years ago, was now worth three times the value, and that the company were fully justified in asking the amount they had for the undertaking.—Mr. Alderman Bevan was decidedly opposed to the acquisition of this property at any thing like such a price as £ 56,000. He thought it would be making the biggest mistake, from a financial point of view, that the Corporation of I Wrexham had ever committed if they gave anything like such a figure for the property, which was not expansive, and included recently purchased land, which the company was not able to develop to the advantage of the shareholders. He should be opposed to offering a fraction more than £ 44,000.—Mr. David Jones contended that no one could possibly estimate the value of the Market Hall property, which was, in his opinion, simply invaluable, and he trusted the Council would not lose this opportunity of acquiring it.- Alderman Done said according to Mr. Thomas Jones the result of this purchase would be an increased rate of 5d. in the 9. After further discussion, Mr. Benson, the mover of the resolution, said he believed that if they gave 956,000 for this property they would be able to make it worth, in five years, £10,000 more to the ratepayers of Wrexham. On a division, the resolution was lost by seven to five.-At the close of the business, a vote of sympathy and condolence with the family of the late Dr. Edward Davies was passed, on the motion of the Mayor, seconded by Dr. H. V. Palin.

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FORESTERS' HIGH COURT. «