TEN MONTHS OPERATIONS.

Shannon News, 1 December 1922, Page 3

TEN MONTHS OPERATIONS.

POWER RbXRD CHAIRMAN REVIEWS PROGRESS. ■ The meeting of the Horowhenua Power Board ,on Tuesday being the last, of'the chairman’s term of officer he gave a short review of the Board’s ■operations to date before vacating the chair. i Mr Monk stated that the Board had been in office (only ten months, and to the outside! public there was not much to show. The Board had no poles tip yet or on the ground. Nevertheless, the Board had been very busy since its formation, and they should tell the public j What had been accomplished. i Mr A. A. Brown: What they want to know is when ctliey will get the juice.

The chairman said the first thing done was the j getting of a suitable Office and staff| An office had been secured at a reasonable rental, and the arrangement made with the County Council for the services of Mr Goldsmith as clerk! was very satisfactory. As regards Engineer, Mr Over-

ton, they coukl not have got a better man, and everything was going on well. As for finances, they were working on an overdraft till their loan

monies were, available. On Mr Overion’s advice tbfe Board took a poll on the raising of £260,000 to carry out the Board’s scheme. The result of the poll was one of which he felt proud.

974 being in favour and 76 against. Oh going rouhd the district and giving addresses on the loan proposals he found there was considerable in- 1

terest in the undertaking, as a result of which the loan was carried by a substantial majority. A good deal of credit was due to Mr Goldsmith in con-

ducting the loan poll, and iris knowledge had been, of great value. The Board had been very successful, he , thought, in getting the first portion of the loan, £BO,OOO, at. 5$ per cent, and as the rate of interest was going down, the Board would very likely secure; the balance at a lower rate and mean a big saving. The one per cent sink- j ing fund invested, at 3 per cent would {

produce at. the end of 20 years the sum of about £25,000, which would ! easily meet renewals and assist in repaying the loan. Be even thought it ; possible to get. a better rate of interest than 3 per cent on the sinking fund. An area of laud had been secured for the erection of plant aud

cottages, and there had been a lot of work involved in pushing matters so as to 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 sating to the Board. Besides that the careful selection of the material which, had been made would

give it a longer life than taking anything the merchants like to send them. As tO' the future, there would be buildings and lines to erect. Motor lorries would have to be purchased for transport purposes,' and this had to be gone into. The next question would be to ascertain what reticulation would cost. When the power was available, the Board would be 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 the members of the Board for their assistance and courtesy, and he also thanked the staff

and was sure the Board.could not have got a better one. Mr Monk referred to the good work of the local press in giving publicity to the Board’s affairs 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.