ELECTRIC' POWER

Wairarapa Times-Age, 21 July 1938, Page 8

ELECTRIC' POWER

MEETING OF WAIRARAPA BOARD. PRESENT STATE OF FINANCES, (“Times-Age” Special.) The monthly meeting of the Wairarapa Electric Power Board was held at Carterton today, the chairman, Mr A. C. Pearce, presiding. Others present were: Messrs S. Dalgliesh, W. A. Tate, M. B. Tait, C. R. Holmes, W. Howard Booth, H. P. Hugo, F. C. Daniell and J. W. Colquhoun. The Secretary-Manager, Mr G. Brown, reported that the various returns for the first three months of the financial year disclosed a satisfactory financial position and satisfactory progress. The total net revenue from the sale of power showed a reduction of £3O 10s 4d as compared with the same period of last year. Taking into consideration the very substantial reduction in charges which had been made, the position was satisfactory. The revenue from bulk supply showed a small gain on last year and also a small gain on the estimate. As an indication of the effect of the new domestic rate, Mr Brown stated, it was interesting to note that although for the April-June quarter the number of units sold for ordinary domestic supply, excluding cooking, had increased by 66,906 units the net revenue had reduced by £837. Taking all items into consideration, it could be stated that for the first three months of the financial year the board showed a gain of £7OO on the estimates. The number of consumers was now 5683 as compared with 5450 twelve months ago. * A resolution was passed authorising the raising of the second instalment of £12,500 of the £25,000 reticulation loan of 31 per cent for a period of ten years. The loan is repayable on the basis of a 20 year amortisation table and the balance outstanding at the end of the tenth year is to be payable in one sum.

The Treasury wrote consenting to the raising of the Upper Rangitumau loan of £1,250 for a period of ten years at 31 per cent and 2J per cent sinking fund and the raising of the Miki Miki loan of £7OO for a period of ten years at 31 per cent and 2J per cent sinking fund. The tender of P. R. Baillie and Co., at £1313 8s 9d was accepted for the supply of 600 poles. It was decided to purchase an addressograph machine at a cost of £2lO. Accounts amounting to £10,256 Is lOd were passed. The chairman, the Secretary-Mana-ger and the Engineer, Mr H. B. Keenan. were appointed to attend the Electric Power Boards’ and Supply Authorities’ Association annual conference.