The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1872-10-01 00:00:00

TOWN COUNCIL AND LOCAL BOARD.

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A meeting was bold on Mondsy morning, prewea',
Tbo hia)or (Jas. Robertson Esti.) ; Aldermen Tizsrd
and Howard ; Coamullors Roberts. Talbot, Luoe,
Grosse. Vincent, Vivbb, Eliot, Commies, Ur. iiimpecm,
Weldord, end J. H. Dureui.b.
The Lc.a Board busbies/ wee first taken.
Till L'25,000 WAS.

The first business was to tilt the Common Seal of
the Board to the mortgage of the general District Bete
for £2.5.000 to the Wait of linglaad Assurance Cotopany,
end to authorise the Town Ckrk to receive the money
on behalf of the Treasurer to the Board.
The Town Clerk prodnoed the documeot, and dated
that the parties wished it sealed without delay.
The II•TOli said that with referencia to this L 7.5,000
loan, he had had some oonveraation with Mr. Alderman
wbo advised that inasinueli, as the Board would
not want the whole ef the money for a fee mouths,
they should purolmes Kachequer bonds with what
would be unexpended, and by that memos the money
would beer • °any tatee•.t.
Mr. Webb asked what rate of interest they would
get?
The Town Clerk supposed Omit 2j per Dent.
Mr. WIDO asked why, if they did not watt the
money, they should borrow the whole? He asked bow
much intere4 the Board would be paying, and wee
answered £4 7s. Si. per cent., when he replied that be
did not see why they should borrow the whole of the
money.
In answer to Mr. Welsford„ Mr. G. &dor said
IL:chequer bonds would bear about the sante Intelsat
as the foods.
The M•roe remarked that Sir John's report with
respect to the cost of the work was that in any event
they would spend £25,000. They might not require
the interoepting sewers ; but the money saved by that
means would be expended in the strainer.
Mr. WILIWORD who had just entered, asked what was
proposed to he done with the money which they would
not require immediately to expend
The )(AVM said that if Mr. Welsford bad arrived at
the proper time, he would have heard what he (the
Mayor) lisd just said. Ho would repeat it—he hid
,t reported to the Board that Mr. Alderman Eliot
. advised that as some of the money would not be
wanted for • few months, it should bs forested In
It:chequer bonds, whereby • daily interest would accrue
on a portion of it.
Mr. VINCIST asked whether they could not borrow
only • part.
The TOITK CLUE: No: we shall have to take up'
the whole amount. _ . . _ _

Limn

fEid

The Mcrae said the question bed been asked of the
Insuranoe Company, and they had declined. This wan
the eourse he would recommend— that the money
should be paid over to the Treasurer, and be be author-
ised to invert theism. in Exchequer bonds, and that
the Board should .ell the Exchequer bonds as they
required the money.
Mr. WILSTORD asked if there wee more than one
money nocount of the Local Board?
Tbe Tows CLIRK believed not, but be would suggest
that lhe loan moouut be kept
...mate. . .

Mr. WILLS/08D: The very thing I wee pies to sug-
gest.
The MAYOR: Will you propose s re•oleUon Mr.
Weleford - - -

While the resolution was being prepared. the MATOII
produoed a list of the charges in connection with the
loan, which he thought extremely moderate. The dis-
bursements its 'tamping, Ito , were fAI ls. 91., the
oommisAon on the loan £l5O, the actual solicit:es
charges being about £l7.
Mr. TALK* humorously remarked that Ws charges
ought to be "chalked up.'—(A laugh).
The Karon : Mr. Weleford, would you like to louk
at the bale!

Mr. WILLIIVOILD : Your worship, that la just one of
the thine" I don't like to do, to look at tinothees pro.
fewslonal bills.

It was proposed by Yr. Waterono, seconded by Mr.
Wiin tte.t the sum of E 23,000 now befog rslsed b.
carried to a separate aceoant by the Treasurer, and
that be be authorised to Invest such sum as he may
deem wieldable In Exchequer bonds.
Carried unanimously.

Tbe Mason then affixed O. soil to the contract with
the Local Board stating that he did so as Chairman of
the mooting. Hie trembly rid tho next thing wee to
authorise the Town Clerk to reoelve the money, and he
offered a reeolution "that the West of Ragland Ana-
rano, Cc moan, as authorised to pay to the Town Clerk
the sum of £25.000."
The same was proposed by Mr. TALIITI, seconded by
Mr. Honiara, and carried uranimonsly.