ELECTRICS SALES.

Shannon News, 21 October 1927, Page 4

ELECTRICS SALES.

FIGURES FOR THE LAEGE INCREASE RECORDED. The Horowhenua /Electric Power Board had before it on Tuesday a statement of income and expenditure for the half-year ended September 30th. This had been p*epared by the accountant, Mr F. J. Ramsay, and was presented by the Treasurer. The particulars were as nnder:-r-

Total .£19,593 16 6 The figures therefore show a credit balance on the half year's working of £466 10s 6d. As compared with the corresponding period of 1926, the position is as under: — INCOME.

Totals .'.: £17,335 £20,060 With regard to the expenditure for the previous year (the treasurer stated) the figures are not quite so accurate for comparison with the current year, because last year a fair proportion of interest was paid out of loan moneys. The figures, however, are as follows: — EXPENDITURE. .

Totals £14,942 £19,593 ESTIMATED AND ACTUAL FIGURES. A return has also been prepared showing how the income and expenditure for the first half of the financial year compare with the: estimates which were framed at the beginning of the year. Taking the income side the following remarks apply:— Lighting.—The fitst half is the best half of the year for returns from lighting accounts. Fortunately the income for the first half is well in advance of half the estimated amount. It is anticipated that the current six months will

not be so good. The effect of the Summer Time Aet is also an unknown quantity, so far as lighting returns are concerned. It is, however, to be expected that there will be a loss of revenue — whether large or small the future will disclose. There is a measure of protection to the Board in the minimum charge per month', for which all consumers are liable. Total for lighting for period', £7653; corresponding period for 1926, £6720. Heating.—Estimated at £4OOO. The half-year's returns show £2456, and the prospects are the estimates will be ex-' ceeded. Same period last year (1926), £1695. Power.—Estimated at £14,600. Returns to 30th September, £6368. The best half of the year is to come. Income same period 1926, £5883. Waterheaters.—Estimated £2300. Re. turn for first half, £1297. Income same period last year was £994. Street Lighting.—Was estimated at £I3OO. Income to 30th September, . £640. Same period for 1926, £6OB. Meter Rents. —Estimated to produce £BOO, actual income £869. The meter rents are practically ended. In the southern part of the district,all these rents have now been collected and the charge will cease. In the northern part of the district there is still one month's rent to collect before wiping the slate so far as meter rent charges are concerned. EXPENDITURE. It will be seen that the total expenditure for the year was £39,420. For the nrst half of the year £19,594 has been accounted for. Interest, Sinking Fund and Principal Repayments.—ln round-figures we have to provide £12,000 for our loans up to £IBO,OOO. To the 30th September last the liability stands at £5992. The new loan of £IO,OOO recently raised will increase the expenditure under this head. Electricity Purchased.—ln the estimates the sum of £15,500 was put down for the year. The first half of the year shows a total expenditure of £7528, so that it seems very probable that on the whole year the estimates will be exceeded. This should, however, indicate that the returns from electricity sales will likewise increase. Expended for electricity same period 1926, £6345. * LOAN EXPENDITURE. The return shows that of the £9500 roughly estimated as the expenditure for the year, some £5268 has been spent for the first half. NEW LOAN. Of the £IO,OOO recently raised from the Public Trust Office, £4OOO has been received.

A SATISFACTORY POSITION. The chairman said he felt, after an analysis of the figures submitted, that the position was satisfactory. It would be noticed that the amount obtained for power charges was not quite up to the estimate; but a good deal of the industrial load weakened during the winter, when some of the flaxmills closed down and dairy factories and farmers Used comparatively little current. This was a:situation, 'however, that should easily right itself. Lighting demand, of course, would • diminish from now on, and meter rents would be- • come non-existent, in accordance with the Board's-decision-to do away with them. i-He" thought that every care

could reasonably be expected in the conduct of "the Board's affairs, and that there was no cause to fear that they would come out with any very large debit balance. Mr Vincent asked the Chairman if he anticipated that the income from power would overtake the estimate. The Chairman: More than over take it, I think. You will have all the dairy load and the flaxmills, too. Mr Seifert congratulated the treasurer on the clear way in which the accounts had been put before the Board. He agreed with the chairman that, whilst the position was extremely satisfactory, the Board must exercise some care.' It would not do to make concessions; on the basis of the result of the half-year. The report was receivH,

INCOME. £ a A 18,413 16 9 869 4 0 131 17 11 Cottage rents, tracing account profits & sundries 351 14 4 Interest on advances 293 j14 0 Total £20,060 7 0 EXPENDITURE. Electricity purchased .. 7,528 8 1 5,073 7 5 Capital Charges— Interest and sinking 5,992 1 0 Depreciation reserve .... 1,000 0 0

1926 1927 Receipts for electricity £15,900 18,414 869 132 All other receipts . •... 599 645

Electricity purchased Working expenses ... Depreciation reserve . 1926 £6,345 . 4,061 . 3,536 . 1,000 1927 7,528 5,073 5,992 1,000