USE OF REVENUE
FOR PURPOSES OF CAPITAL EXTENSION. WAIRARAPA POWER BOARD DECISION. « (“Times-Age” Special.) “That this board approves of the principle and policy of appropriating each year from the net - profit made during the previous year, an amount to be credited to a special account for the purpose of subsidising the capital cost of such extensions to serve new consumers as may be determined from time to time by the board,” was a motion moved by Mr S. Dalgleish at yesterday’s meeting of the Wairarapa Electric Power Board. “Reticulation work only can be done out of loan and all other capital expenditure must be done out of revenue.” said the chairman, Mr A. Campbell Pearce. “This will vary from year to year,” he added, “and in some years may absorb all the profit available.” Mr F. C. Daniell seconded the motion, which was carried. Mr C. R. Holmes, who voted against the motion, contented that any profit should go back to consumers.
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Wairarapa Times-Age, 21 July 1939, Page 4
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162USE OF REVENUE Wairarapa Times-Age, 21 July 1939, Page 4
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