FINANCING THE POWER BOARDS.

Shannon News, 7 October 1921, Page 3

FINANCING THE POWER BOARDS.

A JOINT LOAN SUGGESTED. i ' At a, meeting of the Manawatu-Oroua Power Board at Feilding, the chair- ' man, M. J. A. Nash, M.P., said it had been his intention to ask the Government if an amalgamation of the various power boards throughout New Zealand could be effected. If an amalgamation were put into operation all the money required by the boards might be obtained in a lump sum by the Government. Such a loan would , be much larger than the loans of the respective boards, and as a consequence would be obtained at a cheaper rate of interest, since the larger the loan the cheaper the rate was the usual effect. 1 This would haVe to be done quickly, and if it could be accomplished , the amalgamation would, he was -sure, prove to be in the best interests of the boards requiring loans. In answer to ! a question, thei chairman said he did not think thereiwas, any possibility of the power being lost to the district if the reticulation system was pot completed by the time the current was available. Mr Morrison remarked that the Manawatu-Oroua district held an excellent position, and there was nothing to worry about. . . They should be • ready for the power rnefore Wellington. The chairman: I am sure we shall be ready in time. Mr Francis asked if it would be at’ all helpful to have a resolution from the meeting with reference to the chairman’s suggestion with regard to. amalgamation of boards with a view to obtaining a loan with the help j of the Government. * The chairman: Yes, it would be as well to have a'motion. The following resolution was accordingly carried unanimously: That 1 this provisional power committee deems it advisable that the chairman be appointed to approach the Government With a view* to arranging for the whole of the money required by the various power boards to be obtained by the Government at the. most advantageous terms. ,