POWER BOARD.

Press, Volume LXVIII, Issue 20621, 10 August 1932, Page 9

POWER BOARD.

The members present at the monthly meeting of the Springs-Ellesmere Electric Power Board were Mbbsts A. E. Langdale - Hunt (chairman), B. T. McMillan, G. Maginneav - H. Neave, and E. B. BowelL The financial statement for the month gave* the total revenue as £2152 12s 7d, the principal items being: General lighting £IOO6 17s 9d, heating and cooking £363 5s 3d, power £599 12s lid.' The main items of expenditure were: Purchase of current £745 10s 3d, * interest and sinking fund £1056 10s ed- Accounts for payment totalled £3216 Is 9d. The matter of additions to the street lights on Middlepark and Main South roads was referred to the engineer for attention. A letter was received from the Ashburton. Power Board giving a report of an- interview with. the acting-Minister for ' Pnblie Works regarding the cost of power.' The Minister promised consideration of the request, and, if necessary," to-have an independent investigation made. Arrangements were agreed to with the Public Works Department regarding the rental of the Lincoln sub-station. In the course of his" report the engineer stated that the revenue from guaranteed lines was as follows:—Amount guaranteed £265J2 12s, value consumed £2707 3s 3d, balance of guarantees charged £415 12s 10d; total revenue received £3122 16s Id. These figures covered lines which had been erected under guarantees at a capital value of £21,220, at 12} per cent. The returns showed a revenue of approximately 17 per cent, on the capital investment. If the capital expenditure at March. 31st, 1932, were taken at £155,000,, and revenue £28,000, less £llOO profit, it would be seen- that to make the concern a payable one a revenue of .17.3 per cent, must be obtained. This was borne out by the last Loans Board authority, which stated that * revenue of 17 per cent, on -any- extension must be obtained for a period of ten years. The revenue for the year from commensal lighting was £1434 10s 6d, and from domestic lighting and heating £14,247. Ranges alone brought in £2344 lis 4A. •——•«• •"""» Beporta from the inspector, Paparue. sad Tai Tapu supervisors and lines foreman, -were considered and adopted.. Comment, was made regarding the difference SL * «= te of fatero »t P»M by the Publie Trust Office on mosey placed with it for investment, and that charged by the office" on money loaned by it. The subject arose out «r\„ , ,?^ reae 2 *•■**• B °*«l'» loan of £15,000 now due to the PoMie Trustee, , n d to the fact that the Bond had large sums K&T. J'L Binkin S *nnds invested with the Public Trustee as one of the sinking fund commissioners. Mr Neave, chairman. «f the Finance Committee, said that the Public Trust Office peW 4 per «ea*. on money received and Si per ***•- ** It was decided to obtain written, leu] adeould take in transferrin* the sinking and depreciation funds to otter sinking fond comnritsionew. and that the chairman of the Finance Committee and the aecretar* should wterview the Board', solwiter to plaee the position before him,