HYDRO-ELECTRIC POWER.

Manawatu Herald, Volume XLIX, Issue 3808, 21 June 1928, Page 2

HYDRO-ELECTRIC POWER.

MEETING OF HOROWHENUA BOARD.

The monthly meeting of the Hol'owhenna Electric Power Board was held at Levin on Tuesday, there being present: Messrs G. A. Alonk (chairman), W. E. Barber, T. G. Vincent, R. Bvvant, E. S. Alorse, C. Bleukhorn, A. J. Petherick, and A. Seifert, and Air. P. W. Goldsmith (secretary and treasurer).

DEPRECIATION FUND. The Public Trustee wrote acknowledging his appointment as commissioner for the Board’s depreciation fund investment account. The secretary stated that the sum of £2OOO was being lodged for the year ended Marc-h 31st, 1927, and £2784 for the year ended Alareh 31st, 1928. APPORTIONAIENT OF INSURANCE. The Town Clerk wrote with reference to the accident insurance for the caretaker of the Foxton Alunieipal Theatre, who is also an employee of the Board. Owing to the nature of his electrical work, the Board was asked to pay an ex- ( cess premium of £4 14s. On the recommendation of the Finance Committee, the rnatfcr . was referred to the secretary, with instructions to negotiate with the Town Clerk of Foxton. POWiER, BOARDS’ CONFERENCE. > Notification was received from the Power Boards’ Association that the annual conference would be held in July. . 11l The chairman, Air. Petlierick a\ul the secretary were appointed to represent the Board. The opinion was expressed by the chairman that if the conference was held every two years it would be often enough under conditions that now obtained. BALANCE-SHEET FOR 1927 AND 1927-28. The balance-sheets for the two years referred to above have been returned from the Audit Departmenl with the certificate of the Auditor and Controller-General for each respective year as follows: — “The Audit Office having examined the balance-sheet and accompanying accounts required by law to be audited, hereby certifies them to be correct.” The audit of the Board’s accounts is now brought up-to-date, which is a very satisfactory state of affairs, at least from the standpoint of the Board’s officers. DEPRECIATION FUND INVESTAIENT. During the month, as the money became available, the total sum set aside for depreciation for the years 192(5-27 and 1927-28, a-

mounting to £4784, has been paid over to the Public Trust Office. The present rate of interest payable for the money invested in the common fund of the Public Trust Office is per cent. ACCOUNTS. Including the payment to the Public Trust Office of the depreciation fund, there has been paid away since the last meeting of the Board the sum of £5443 19s 7d, the principal items being the Public Trustee £4784, salaries £299, wages £2BO, installations £3O and insurance premiums £l4. On the pay roll for the day the principal account- is for the half-yearly interest (plus exchange) due to the A.M.P. Society—amount, £2208 5s 2d. Further accounts for poles, copper cable, timber, sleepers, ranges, meters, benzine, tyres, telephone rentals, and many sundries absorb £OOO 0s sd, making a total to he passed of £2BOB 5s 7d. RECEIPTS. The receipts for the month of May from all sources amounted to £3022 13s Od, and the total receipts for the year so far (two months) amounted to £BBB9 15s sd. YFor the first two months of the present financial year the returns arc £ll2 ahead of last year, when meter rents were collected to the extent of £2BO. The quarterly accounts (usually paid in the month of April) were less this year than for 1927 by £460. This would therefore indicate there has been a fair increase in ordinary consumption, making up for the shortage as well as for the loss of meter rents. The report was adopted.