HOROWHENUA ELECTRIC POWER BOARD.

Manawatu Herald, Volume XLVIII, Issue 3554, 26 October 1926, Page 4

HOROWHENUA ELECTRIC POWER BOARD.

In referring to the Board’s finances* at last week’s meeting of the above Board, the chairman said the Board did not expect in the second year of its trading, that it would have.a revenue of £30,000 a year. This revenue was necessary, and would give the Board an opportunity, perhaps, of paying a portion of the interest and sinking fund out of loan, and giving the nucleus of a reserve fund. The operations of the half-year pointed to this fact, and that the Board’s revenue should be in the vicinity of £35,000 a year. He felt that there would be an increase in revenue — except lighting and water-heating—-in all the channels in which it dealt. One of two things which had impressed him were, firstly,

that for 1925 the Board’s installations were £15,593 in value, while (he second year they were £12,614, and £4,810 for service lines, showing that the town reticulations were finished and a movement made where there were no service lines, and showing that the Board was evidently penetrating into the thinly populated districts, thus getting to the people “further back.” Secondly, that of £52,000 of installations, £36,000 had already been collected—a. very good performance. The position was very satisfactory, and showed that the people in the district had backed up the Board very well. Mr Seifert said the Board was right in not taking up too optimistic an attitude at the start by giving concessions that could not afterwards be allowed. It was a good thing for the ratepayers to feel that the Board would not have to place a rate on properties—propertyowners generally were heavily rated as it was, and they could not stand very much more.