PETONE-HUTT GAS PLANT

Evening Post, Volume CIV, Issue 134, 4 December 1922, Page 2

PETONE-HUTT GAS PLANT

VALUATIONS EXPLAIN!^.

As there appears to be, in some cas"".a wrong impresssion with regard to tko particulars of the valuation recently made in respect, to the acquisition by the new-ly-formed Petone and Lower Hutt Gas Lighting Board, of the gas undertakings previously owned by the respective councils, an official statement on the subject has been issued. It says: — The actual position is that the independent valuer, Mr. H, 3. Kennedy, valued, the manufacturing plant, including the' gasworks buildings and the gas manager's house, owned by the Petone Borough Council, at £24,790 8s 96", which sum included an amount of £541 8s 9d for plant then ordered, and now in the Course of installation.

Ih the chse of Pet One* that part of th? imder^aking • relating to distribution, which inoludiia gas mains, services." and meters, is Valued at £17,096 16s. The ValUo of the stocks of coal, coko, tar, fittings,'pipes, etc.j is £2096.4s 4d. Thus Petone s interest in the undertaking i* assessed at£43,963 9s Id, *

With regard to L0W&: Hutt, tile value of the maths, meters, and services in th_t borough is asieMed at £17,519 lls 7d, to which mußt be added the value of the 6toeks of pipes and fittings, £487 9s, making a total, so far as Lower Utitt. is concerned, of £18,007 os_7d. The value of the while Undertaking (inclndi>-j; stocks and a quantity of indented maini in transit) is £61,990 9s Bd.