HYDRO-ELECTRIC POWER.

Shannon News, 22 June 1928, Page 3

HYDRO-ELECTRIC POWER.

MEETING OF HOROWHENUA BOARD. The monthly meeting ,of the Horowhenua Electric Power Board was held at Levin on Tuesday, taoro being present: .Messrs Q. A. Morlk (chairman), W. E. Barber, T. G. Vincent, R. Bryant, E. S. tMorse, C. Blcnkhorn. A. J. Petherick, and A. Scifert, and Mr. P. W. Goldsmith (secretary and treasurer). . The chairman reported that the Board's engineer, Mr. J. A. Smith, was attending the conference of the Supply Authorities' Engineers' Association, in Wellington, which was expected to last three days. Depreciation Fund. The Public Trustee wrote acknowledging his appointment as commissioner for the Board's depreciation fund investment account.

The secretary stated that a letter •was ■written to the District Manager of the Public Trust acquainting him -with the Board's resolution, to appoint the Public Trustee sole commissioner of the depreciation fund. The sum of £2OOO was being lodged for the year ended March ■?> lst, 1927, and £2784 for the year ended March 31st, 1928. The letter was received. Apportionment of Insurance.

The Town Clerk -wrote -with reference to the accident insurance for the caretaker of the Foxton Municipal Theatre, who is also an employee of the Board. Owing to the nature of his electrical work, the Board was asked to pay an excess premium, of *£A 14s. On the recommendation of the Finance Committee, the matter -was referred to the secretary, with : instructions to negotiate with the Town Clerk of Foxton.

The Mercantile and General Insur : anco Company, Ltd., -wrote asking for a share of'the Board's business. , ;The chairman said that the firm did not hold out any hope of a reduction in insurance charges. The letter was received. - Power Boards' Conference.

Notification was received from the Power Boards' Association that the annual conference would be held in July. The Board would bo advised later as to the date.

The chairman, Mr. Pethcrick and the secretary were appointed to represent the Board. The opinion was expressed by the chairman that if the conference was held every two years it would be often enough under the conditions that now ■ obtained. Much of the "spade work' had been done; and the Government was not going to keep on tampering with the Act. If the conference was held every second year, the executive could carry on in the. interim. Treasurer's Report. The report of the treasurer on the months operations was as follows: — Balance-Sheet for 1927 and 1928. The balance-sheets for the two year?, referred to above have been returned from the Audit Department with the . certificate of the Auditor and Control-ler-General for each respective year as follows:—"The Audit Office having examined the balance-sheet and accompanying accounts required by law to be audited, hereby certifies them to be correct." The audit of the Board v 's accounts is now brought up-to-date, which is a very satisfactory state of affairs, at least from the standpoint of the Board's officers. In due course the balance-sheets will be printed and be available to members. Depreciation Fund Investment. Following up the appointment by th< Board of the Public Trustee as the sole commissioner for the depreciation fund thp Public Trust Office was advised o. the appointment and a sealed copy o; the resolution making the Public Trustee the commissioner under the Act was supplied. During the month, as the money became available, the total sum set aside for depreciation for the year: 1926-27 and 1927-28, amounting to £±7B4'. has been paid over to the Public Trusl Office. The present rate of interest payable for the money invested in the common fund- of the Public Trust Office it 5J per cent. Accounts. Including the payment to the Public Trust Office of the depreciation fund there has been paid away since the lasl meeting of the Board the sum of £544, 19s 7d, the principal items being the Public Trustee £4784, salaries £299 avages £2BO, installations £3O and insurance premiums £l4. On the pay rol for the day the principal account is for 'the half-yearly interest (plus exchange) due to the A.M.P. Society—amount, £2208 5s :'2d. Further accounts for poles, copper cable, timber, sleepers, ranges, meters, benzine, tyres, telephone rentals, and many- sundries absorb £6OO 0s sd, making a total to be passed ot £2BOB 5s 7d. Receipts. . The receipts for the month of May from all sources amounted to £3622 13s i6d, and the total receipts for the year so far (two months) amounted to £BBB9 15s sd. The following table gives the particulars:— Cash Receipts for April and May, 1928. (Shillings and pence omitted). Total to May, 1928. May 31. £ £ Electricity 2952 7719 Penalties I 27 54 Installations, fittings and . service lines* 542 967 Interest" on installations 44 63 Consumers' deposits .... 15 24 Rents and sundries 41 55 * Totals . £3622 8889 Cash receipts for electricity, April and May, 1928, £7719; cash receipts for > electricity and meter rent, April and May, 1927, £7607; increase of £ll2. It will thus be*seen that for the first two months of the present financial year the returns arc £ll2 ahead of last year, when meter rents were collected to the extent of £2BO. Th« quarterly accounts (usually paid

in the month of April) were less this year than for 1927 by £460. This would therefore indicate there has been a fair increase in ordinary consumption, making up for the shortage as well as for the loss of meter rente. The report was adopted.