WAIRARAPA POWER BOARD

Dominion, Volume 14, Issue 219, 10 June 1921, Page 6

WAIRARAPA POWER BOARD

A meeting of the Wairarapa Power Board was held at Carterton on Wednesday. Mr. J. C. Cooper presiding. A report was received from the engineers on tho electric plant at Featherston Camp, which it was suggested might bo acquired as a standby, and the engineers were instructed to enter into negotiations with the Defence Department. Tho secretary reported having interviewed the Bank of New Zealand. Iho rate of interest on overdraft to local bodies had been increased to 7 per cent., but there was no authority under the Act for the board to pay that rate on what was really an advance against the proposed loan. It was therefore proposed by the bank that while the rate of interest should len(ain nt 6 per cent, a commission of 10s. per cent, halfyearly should be charged on the full amount’of the limit arranged. That was to say, the commission would be charged on the JIIO.OOO irrespective of the amount of the overdraft. It was decided to ask the bnnk to odd to the agreement a proviso that in no event should the interest and commission charges exceed 7- per cent.

Great conflagrations of history include the Fire of London, in 1666; Moscow, in 1812; Paris, in 1871; Chicago, in tho same year; San Francisco, in 1896; and Salonika, in 1917. Hearths in the centre of the room were built as late a sthe ISth century.