IMPORTANT MUNICIPAL PROPOSAL

Evening Post, Volume LXX, Issue 71, 21 September 1905, Page 6

IMPORTANT MUNICIPAL PROPOSAL

PURCHASE OF THB ELECTRICAL SYNDICATE'S BUSINESS. CONTROL OF PRIVATE AND PUBLIC LIGHTING. A very important matter will be brought before the City Council at its meeting this evening, viz., tho question of taking over the whole of the works and business of the City of Wellington Electric Lighting and Power Company within the city. Some time agq the citizens authorised tho raising of £25,000 hr the purchase of the public lighting portion of the company's' business, and the Mayor now proposes that the Council shall give notice to the company, under section 91 of the Wellington Electric Lighting Act of 1891, of its intention to take over the company's plant, city contracts, etc. Section 91 of the Act in question reads as follows: — "The Corporation may, within six months after the eacpiration of a period of 10 years from the date of the passing of this Act, and within six months after the expiration of a period of 14 years from the date of the passing of this Act, and within six months alter the expiration of every subsequent period of seven years, by notice in writing, stated to bo given under this section, require the company to sell, and thereupon the company shall sell, to the Corporation the company's undertaking, or so much of the same as shall be within the area over which the Corporation space have municipal jurisdiction, upon terms ol paying to the compaaiy the amount of capital which shall have been from time to time expended bona fide by it upon the undertaking or so much of such undertaking as shall be within such jurisdiction aa aforesaid, and also upon terms of paying to the company, if necessary, such a further sum as shall make tlie total net profits earned by the .company to tho date of the completion of the purchase up to £10 per centum per annum on such capital as aforesaid, such amount and. sum to, be in case of difference settled by arbitration ; provided that in estimating such total profits as aforesaid for the purposes of this section, no sums shall ba written off the same as for depreciation of the lands, buildings, works, materials, and plant of the undertaking, but this proviso shall not be held to apply to proper repairs actually executed."