“EN MONTHS' OPERATIONS.

Otaki Mail, 6 December 1922, Page 4

“EN MONTHS' OPERATIONS.

POWER BOARD CHAIRMAr, REVIEWS I'ItOGRESS. The meeting of the Horowhetiua Power Board on Tuesday being the last of the chairman's term of office, lie gave a short review of the Board's operations to date before vacating the chair. Mr Moiik .-fated that the Board. Dad been in office only fen months, and to the outside public there was not much to show. The Board had no poles up yet or on Ihe ground. Nevertheless, the Hoard had been very busy sinee 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 gel the juice. The. chairman said ihe first thing done was Ihe getting of a suitable office and staff. An office loot been secured at a reasonable rental, and the arrangement made with the County Counc-il for the services of Mr Goldsmith as clerk was very satisfactory. As regards (heir Engineer, Air Overton, thev could no! have got a better

man, and everything was going on well. As for finances, they worn working on an overdraft till their loan monies were available. On Mr Overton's advice the Board took a poll on the raising of £200,000 to carry out lite Board's scheme. The result of the noil was one of which he felt proud, 071 being in favour and 76 against. On going round Ihe..district and giving addresses on the loan proposals he found there was considerable interest in the undertaking, as a result >f which the loan was carried by a substantial majority. A good deal of credit was due to ATr Goldsmith in conducting the loan poll, and his knowledge had been of great value. Dip Board bad been very successful, he thought, in getting the first portion of flic loan. CSO.OOO, at 5. 1 . per cent, and as Ihe rate of interest was going down. the Board would very likely secure

the balance at a lower rale and mean a big saving. The one per cent sinking fund invested at 3 per rent would produce at the end of 2ft years the sum of about £25,000, which would easily meet renewals- and assist in repaying the loan, fie even thought il possible to get a better rate of interest than 3 per cent on the sinking fund. An are.\, of land had been seemed for the erection of plant and cottages, and there had been a lot of work involved in pushing matters so afo 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 thai the careful selection of ihe material which bad been made would give it a longer lite than taking any- : thing the merchants like to send them. As lo the future, there would be build-! ings and lines to erect. Motor lorries j would have to be purchased for tnsis- I port purposes, and this had to he j gone info. The nexl question would be m ascertain what reticulation would cost. When the power was available, the Board would lie in the position of buyer and seller, but it was of the utmost importance that they should get the power from Mangahao in schedule time. The chairman, in conclusion, thanked flic members ol The Board for their assistance sind courtesy, and he also thanked the staff and was sure the Board could not have gof a fiefter one. Air Alonk referred to the good work of the local press in giving publicity fo the. Board's affair? and especially during the loan campaign, and thought it could do more by keeping the public in touch with the Board's operations from time to time. He thanked the Press on behalf of the Board.