TEN MONTHS OPERATION.

Manawatu Herald, Volume XLIV, Issue 2515, 7 December 1922, Page 1

TEN MONTHS OPERATION.

POWER BOARD CHAIRMAN REVIEWS PROGRESS. The meeting of the Ho row henna Power Board last week, being the last of the chairman’s term of office, he gave a short review of the Board’s operations to date before vacating the chair and to which he was subsequently re-elected. Mr Monk (tilted that the Board had been in office only ten months, and to the outside public there was not much !o show. The Board had no poles up yet or on the ground. Nevertheless, the Board had been very busy since its formation, and they should tell the public what had been accomplished. Mr A. A. Brown: What they want to know is when they will get the juice.

The chairman said Ihe first thing done was the getting of a suitable office and staff. An office had been secured at a reasonable rental, and the arrangement made with the County Council for the services of Mr Goldsmith as clerk was very satisfactory. As regards their engineer, Mr Overton, they could not have got a better man, and everything was going on well. As for finances, they were working on an overdraft till their loan monies were available.. On Mr Overton's advice the Board took a poll on the raising of £2(10,000 to carry out the Board’s scheme. The result of the 1 poll was one of which he felt pround, 974 being in favour and 7(1 against. On going round the district and giving addresses on the loan proposals, he found there was considerable interest in the undertaking, as a result of which the loan was carried by a substantial majority. A good deal of credit was due to Mr Goldsmith in conducting the loan poll, and his knowledge had been of great value. The Board had been very successful, lie thought, in getting the first portion of the loan, £88,090, at 5i per cent., and as the rate of interest wa.- going down, the Board would very likely secure the balance at a lower rate and mean a big saving. The one per cent, sinking fund invested at 3 per cent, would produce at the end of 20 years, the sum of about £25,000, which would easily meet renewals and assist in repaying the loan. He even thought it possible to get a better rate of interest Ilian 3 per cent, on the sinking fund. Andrea of land had been secured for the erection of plant and cottages, and there had been a lot of work involved in pushing matters so as to secure the Board’s license, and on this point the engineer should be congratulated. The question of poles had been before them that day and the satisfactory recommendations of the engineer would undoubtedly mean a considerable saving to the Board. Besides that the careful selection of the material which had been made would give it a longer life than taking- anything the merchants like to send.them. As to the future, there would be buildings and lines to creel. Motor lorries would have to be purchased for transport purposes, and (his had to be gone into. The next question would be to ascertain what reticulation would cost. When the power was available tin' Board would be in the position of buyer and seller, but it was of tile utmost importance that they should get the power from Mangahao in schedule time. The chairman in conclusion, thanked the members of the Board for their assistance and courtesy, and lie also thanked the stall and was sure the Board could not have got a belter one. Mr Monk referred to the good work of the local press in giving publicity to the Boards affairs and especially during the li.nn campaign, and thought it could do more by keeping the public in touch wit 1 1 the Board’s operations from time to time. He thanked the Press on behalf of the Board.