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Hokitika Guardian, 9 June 1920, Page 2

The petition for the proposed Electric Power Board for Westland now in process of signature, is, we understand, being well supported, and it is hoped to get the requisite number of signatures to ensure the creation of a Power Supply district by next week. Thereafter the petition has to be presented to the Governor-General,' with whom rests the necessary sanction for the district. I After the district is created, steps will require to bo taken for the election of a Power Board in the ordinary way,, and • for the taking of the poll the ordinary j County electoral roll for the district north of the Mikonui river would be used. It will be for the Board so elected to take control of the power scheme ultimately to bo adopted for the district. It is understood that a rather advantageous scheme is possible in

respect to the supply of industrial power, which if effected would give the electric power scheme a good start in Westland. A source of power is said to bo available which would serve the northern part of Westland proposed for the power district, and any over-plus of power would be saleable in adjacent boroughs or even the adjoining County. If the power scheme is initiated on these lines it should bo made a payable project from its early stages, and this would encourage development and expansion as circumstances warranted As matters are now shaping the district is, boing put in the way of falling into* line with other localities which have adopted modern methods of power and lighting, and are prospering accordingly. 1 The balance sheet of the Bank of New Zealand for the past year discloses a very satisfactory position for the* period, the profit being substantial. The telegram conveying the position of the Bank which shows the very satisfactory condition of this important State supported institution, includes two paragraphs of comment which are ratjier unusual in a Press Association message. Thb proposed Government loan of two millions is referred to as tending to a continuation of war pros-, pority and inflation, which asserts the telegram,” anyone desires to see ended.” Presumably the authorities of the bank have a clearer insight than the average person ns to the position of the country’s finance. When Government ask for a loan it is to bo assumed that the money ,is indispensible. In this case it is being ear-marked for public works, and on the face of it, it appears sound administration in this country to carry on development steadily. Perhaps the hanking authorities can throw some light on the public finance, and as the Minister of Finance is so slow to make an announcement, information in this important matter would be welcomed. The second matter is the telegram is the intimation that when the annual meeting of shareholders of the bank takes place, the Chairman will find occasion probably “to utter a particularly strong warning,” presumably to the country at large.. This latter comment intensifies the desire to hear all there is to be said about the financial position of the country. It is evident the stringent times so often spoke of are at hand, and the country generally must needs, shape a new course. The fuller statement of the position will he awaited with interest.