POWER AND LIGHT

Sun (Auckland), Volume 1, Issue 2, 24 March 1927, Page 9

POWER AND LIGHT

WAITEMATA BOARD A SATISFACTORY YEAR A special meeting of the Waitemata Electric Power Board, called for consideration of the board’s financial position at the completion of the financial year was held yesterday. The chairman, Air. J. W. Hayden, presided. ANNUAL REPORT In his second annual report, the chairman stated that the satisfactory completion of what must be regarded as the most- critical period affecting the future of the board could be considered as being very satisfactory. The three factors largely responsible for that position were the board’s policy of expediting reticulation, the supply of power to the New Lynn area, and the acquisition of the Devonport undertaking. Assuming that the Devonport station would be closed down in July, the rate of revenue would show a surplus over expenditure from that date, and would enable the board to make the necessary allowance for depreciation, etc., which was so necessary for a sound administration. The estimated revenue and expenditure for July were, respectively, £39,400 and and £35,535, an excess of revenue of £3,865. Air. Hayden strongly recommended that the. whole of the plant be offered for sale and that the board dispose of its freehold property. The generating costs were £9,600 a year, and the cost to the board to supply current to Devonport would not exceed £4,000. Two loans had been raised, said Air. Hayden, one for £ 200,000, and another, for Devonport, for £61,000. In addition to work on the main lines, extensions had- also been made to Te Atatu, Birkdale, and Waan Hamlet, while Titirangi was also under way . Extensions to Swanson, Devonport, and Castor Bay had also been partly completed. Further loans would be required to carry out further extensions asked for, and that matter would have to be considered before the end of the year. The report was adopted. Board's Policy

In regard to future loans the chairman said that the board should consider the advisability of raising an additional £50,000. It was also a question of policy as to whether they should devote their* time during the forthcoming year to lines already in operation or to further extensions.

Mr. S. Kennings considered that the present policy, that of reticulating only those areas that gave a promise of an early return, was the only sound one they could pursue. It was resolved that the engineer be instructed to expedite the change-over at Devonport, even if at extra cost. An application to join the power board district was received from the New Lynn Town Board.

It was decided to do whatever possible to assist the New Lynn Town Board in coming into the district.