ELECTRIC POWER.

Franklin Times, Volume XVIII, Issue 40, 4 April 1928, Page 4

ELECTRIC POWER.

i FRANKLIN BOARD MEETS. GENERAL BUSINESS. The Franklin Electric Power Board held its regular meeting yesterday afternoon, when there were present:— Messrs. J. Dean (chairman), H. P. Garland, J. B. McKinney, H. Wilcox, W. L. West, G. Arrowsmith, L. W. Keals, G. T. Parvin, J. Patterson, the secretary (Mr S. P. Day), and me engineers, (Mr T. R. OVerton). The Minister of Finance forwarded orders in council consenting to the raising of Part Raglan County loan of £20,320, and prescribing the rate of interest at 5| per cent, plus one per cent, sinking fund over a period of 3G£ years. The formal resolutions in relation to the loan were passed and sealed. ,

Mention was made of the fact by the secretary that the chairman had been instrumental in raising in Auckland £IO,OOO of the loan at £5/12/6 per cent, with a brokerage feee of onehalf per cent, as against the ordinary fee of one per cent. Members expressed satisfaction with the arrangement.

The chairman stated that the busi-ness-like way the balance sheet had been drawn up and the sound policy adopted by the board, had appealed to Auckland money lenders. It was indeed a matter for gratification that the board's policy appealed to investors. Accounts amounting to £4858/15/ 5 were passed for payment. It was decided to notify the Pukekohe borough council that the board would erect an electric lamp in Massey Avenue and pay the cost of samfe, and that the board was willing to aflow a cash discount of five percent, on the cost of pumping the borough water.

The engineer was asked to report to the board in two months' time the terms and conditions he woufTt continue as engineer, at the expiration of the present agreement. The tender of Mr W. Milne of Papakura, totalling £487/17/9 for wiring the Waiau Pa group was accepted.