OPUNAKE.

Taranaki Daily News, 11 October 1921, Page 7

OPUNAKE.

HYDRO-ELECTRIC SCHEME. (From Our Own Correspondent.) The initial meeting of the Opunake Electric Power Board was held on Wednesday. The members present were: Messrs. C. A. Trotter, M. O’Brien, J. P. Burton, C. H. Hurst, F. Carter, W. L. F. Chambers, and H. Young. Mr. Trotter was appointed chairman. The engineer (Mr. Toogood) submitted a report covering the progress made to date and the cost of developing the Waiau stream up to 300 h.p., with an additional overload capacity of 100 h.p. for periods of short duration. The expenses up to September 5 were £3425. The estimate of the large scheme (which has developed from a town lighting and power scheme to one of a district hydro-electric power scheme covering a radius of seven miles north and seven and a quarter miles south, extending from the sea border to the mountain reserve) is £55,000. Add to this interest and sinking fund and preliminary expenses, will make a total loan proposal of £67,000. Of this amount £7OOO has been raised by the Town Board. The engineer suggests that authority be asked from the ratepayers to raise £70,000. This sum will include the total cost of the works and enable the scheme to be made a payable one in two years without recourse to a rate. The annual working expenses when completed are estimated at £1220. Provided the loan is raised at 6 per cent, with 1 per cent, sinking fund, the annual capital charge will be £s#lo. The estimate of the annual revenue is: 170 milking motors at £23, £3910; 200 country houses at £6, £l2OO ; 50 town connections at £5, £250 ; 6 cheese factories at £5O each, £300; 2 cheese and butter factories at £lOO each. £200; one butter factory at £75; total £5935.

It will be seen that the estimate of revenue for the Opunake town of 50 connections at £5 is on the small side, whilst the estimate of renewals and repairs £l5O is on the small side. The engineer reported that there was a loss of £5OO on the first purchase of cement. It was mainly due to the board having to obtain cement when prices were high, and before shovels were obtained. The engineer’s report is a good, plain statement, which can be followed by the lay mind, and a point he emphasises is that the board will have to keep with; in the limit of the estimates of expenses he has allowed. The ratepayers will have to consider the future position. If we are to get out of our one horse show town methods we must do it ourselves, and by going in for improved methods. We have turned down several important proposals during the last few years. If the financial arrangements fall through that is not our fault. We were prepared to shoulder the harbor rate, and we will be prepared to shoulder the hydro-electric rate and take the risk (if there be any). If the capital cannot be obtained after the guarantee is given we will be forced to think that something is wrong with our capital system when willing parties are prevented from being industrious.