A PROGRESSIVE YEAR

Waikato Times, Volume 122, Issue 20513, 1 June 1938, Page 13

A PROGRESSIVE YEAR

CAMBRIDGE POWER BOARD STEADY EXPANSION REPORTED (Special to Times) CAMBRIDGE, Tuesday The annual meeting of the Cambridge Electric Power Board was held last evening, when those present were: Messrs M. Wells (chairman), J. W. Garland, R. Fisher, W. Moore, D. M. Bourke, B .N. Garland, J. T. Entwistle, J. H. Brock, F. M. Oliver (secretary-manager), and H. C. Oaten. A welcome was extended by the chairman to the new members, \ Messrs Bourke and Garland. Mr Wells was re-elected chairman for the ensuing year. Mr Garland stated that the progress of the board was largely due to the sound administration of the chairman, whose honorarium was fixed at the same figure as last year, £l2O. Mr J. W. Garland was re-elected deputychairman, while committees were appointed as follows: gfaff committee, Messrs Wells, Moore and Brock; committee, the whole board; finance assistance committee, Messrs Moore, Garland and Brock. It was reported that progress Is being made for tbe supply of power to Te Mlro. Chairman’s Review In his annual review of the year’s operations the chairman said the period had been a very satisfactory one as Indicated by The Increased number of consumers of 1689 against 1613 the previous year. The peak load was 1061 K.V.A., against 1012 K. an Increase of 4.85 per cent. Units purchased amounted to 6,565,150, against 5,234,170 last year, an increase of 5.3 per cent. The net cost per unit purchased was the same as last year, .20d, and the total annual costs per unit sold. .95d (1937), .88d ( 1933). The board bad spent £3500 last year on renewals of poles and lines, etc., to bring the system towards the required standard. The sum of £ll6O had also been spent on capital works. Authority had been obtained to raise a £lo,ooo‘loan to provide for future capital charges. The board had the satisfaction that Its charges compared more than favourably with most other boards. The gross profit was £2400, but this was ofTset by extraordinary renewals and capital works. The chairman concluded his review with thanks to the directors and staff and he referred with regret to the fact that Messrs F. Lye and F. H. Anderson, former members, did not seek re-election. The Estimates The principal Items of expenditure for the year just concluded are as follows, with"the estimates for the ensuing year In parentheses: Power purchased. £8044 . £3500 • ; wages. £lO 3 9 -£ 1 350 »: salaries, £4175': sinking' funds on loans, £2IOO £2o6* • capital works. £ll6O < —); material and wages. £3507 £1500>: estimated profit for year, £220. Totals £23,795 *£22,300). Similarly receipts are: Sale of rurrent. £•>1.19£22.000 > ; rental Of offires. £llO