POWER BOARD TRADING.

Putaruru Press, Volume IV, Issue 129, 22 April 1926, Page 1

POWER BOARD TRADING.

CONDITION OF STOCKS. A Satisfactory Position. At a recent meeting, on the motion of Mr. J. Price, the Thames Valley Electric Power Board decided ,to secure an independent report upon the board’s trading department. This report was submitted to Tuesday’s meeting of the board by Mr. R. Donovan, manager of the British General Electric Co., Auckland, and reads as follows: |

“ I have pleasure in submitting in accordance with your manager’s instructions a report as to the value of your board’s stocks, shown in the stock-sheet as at the 31st March, 1926.

f ‘ I inspected the actual stocks at head office and the various depots. I can report that they are all in excellent condition. Stocks comprise only such items as are being turned over month after month, and there is a complete absence of any stocks of a nature which is unsaleable or even not in common demand. This is a matter for congratulation to the board’s officers and shows good judgment in .their purchases.

“ I found that stocks are all priced at present-day market quotations, and in fact many items, particularly cable and certain conduit fittings costed at extremely-fine figures, so that .the value as shown against stocks in hand represent a true representation of the value of the stocks as they stand. 11 1 would like to express appreciation of the manner in which stocks are kept by the various storekeepers.” The chairman, in reply to a question, stated that the report cost 20 guineas.

Mr. Flatt complimented the staff upon the satisfactory position. I Mr. Price considered it was money well spent to satisfy the critics of the board’s trading department. The chairman stated that it had I been said that he was retiring from the board “ before .the crash came ” , I but the report showed *that he was j not deserting a sinking ship. i