ADJOURNED

Hawera Star, Volume XLVIII, 28 February 1929, Page 4

ADJOURNED

ARBITRATION PROCEEDINGS ELECTRIC COMPANY AND POWER BOARD. RESUMING IN WELLINGTON ON MONDAY. The arbitration proceedings between the Hawera County Electric Company and the South Taranaki Power Board took an unexpected turn this morning, when an agreement was arrived at between the parties to adjourn the further hearing to Wellington on Monday. / The greater proportion of yesterday afternoon’s session was occupied in talcing the evidence of Hugh VicKerman, civil engineer, and Henry Featherstou Toogoou, civil and electrical engineer, called by the board to testify- regarding the value of the superstructure of the power-house.

Mr. Spratt said that was all the evidence that would be called at that stage, as the engineers were still conferring. Mr. Myers said that the engineers were apparently making good progress, and as a result of their conference the proceedings might be shortened by several days. When proceedings were resumed this morning Mr. F. O. Spratt said that the engineers had come to an agreement on the value of the tangible assets less depreciation, upon which he would have to take evidence. He thought that the adjournment of the proceedings for a day at that stage would make for the speedier conclusion of the proceedings and would be in the interests of both parties. Ever since Mr Myers had suggested that the engineers should oonler, those witnesses had been working in the evening in addition to the day, and counsel had been unable to consult them.

Mr, M. Myers, K.C., said that he could not agree to an adjournment, which should not be necessary. The engineers had all agreed yesterday afternoon and counsel on the other side had had the same opportunity as he had to consult his witnesses. Personally he was ready- to go on and to cross-examine his friend’s witnesses. He iinderstood that Mr. North had informed Mr. Houston last night that his side would seek an adjournment, and Mr. Houston had stated that he would oppose the application. Counsel would remind the assessors that the daily- cost of these proceedings was very heavy. If they had to adjourn—and he objected—he would suggest that the adjournment be taken at Wellington on Monday. The object of coming to Hawera had been as they had seen the plant and buildings. He added that an adjournment to Wellington would suit the convenience of counsel and witnesses better than an adjournment taken here. Mr. Spratt expressed the hope that his friend did not consider him unreasonable under the and mentioned that it was only because he li(ad been prepared to meet his friend’s wishes in regard to a conference of the engineers that it had become neoesesary to seek an adjournment. , He was not unprepared, but he desired an opportunity to make up for the four or live days of dislocation caused by the engineers’ conference. As far as the venue was concerned, that was in the arbitrators’ hands. He was quite prepared to adjourn to Wellington but it seemedi to him that the evidence left for the engineers, was of comparatively restricted compass and it siiould be possible to fix that up tomorrow and Saturday. Mr. Myers: I am afraid there is no chance.

Mr. Myers then outlined the points upon which; agreement had been reached. These included the value of headworks and foundations, at new value, less depreciation; power house equipment, subject to depreciation and an adjustment ins regard to a quotation for machinery; the value of reticulation system, meters, etc., —all at new value, less depreciation. It was also stated) that tentative agreement bad been arrived 1 at in regard to transport (vehicles etc.) and that there would he no difficulty in agreeing upon the value of stock and tools. The question of depreciation and goodwill would be still, of course, a matter for argument before the arbitrators. After further consultation between counsel, Mr. Spratt said that he would 1 agree to an adjournment to Wellington. The proceedings were accordingly adjourned t-o Wellington at 10 a.m. on Monday.