FUTURE BRIGHT.

Auckland Star, Volume LXVIII, Issue 271, 15 November 1937, Page 8

FUTURE BRIGHT.

POWER BOARD YEAR.

MANAGER'S STATEMENT. WILL MEET ESTIMATES. Anticipation that the forecast of revenue of the Auckland Electric Power Board for the year's working will be realised is expressed in the half-yearly statement presented to the board by the manager, Mr. R. H. Hartley, this afternoon. "The figures shown line up very closely with the estimates presented at the commencement of the financial year," stated Mr. Bartley. The board had eold 12,500,000 units more than in the corresponding period of last year, and the total gross revenue was increased by £29,471. After taking discounts into consideration, the net increase in revenue was approximately £26,400.

Domestic supply returns showed an increase in revenue of £19,600, and commercial lighting an additional gross revenue of £2100. Power had produced £13,800 added revenue. A decrease of £4100 was shown in the revenue from fraction supply, though the supply had increased by 300,000 units. Street lighting showed a decrease of £1997 as the result of lower charges passed on to th» City Council and other local authorities.

Substantial increases were revealed on the expenditure side. Total working costs had increased by £31,800, of which. £20,200 was accounted for in powfr purchases. Alterations and repairs to the Queen Street building accounted for £4000, additional wagesrCfSieseuled £2300 and the additional costs of financing installations under the board's scheme of free installation accounted, for £3200.

"The position, I feel, will be regarded as satis fiaotory," stated Mr. Bartley. "With the larger increase in the domestic supply bu6Jne*s I think our summer quarters ar» going to show up better than they %Ht ever done before."