WESTLAND POWER

Hokitika Guardian, 14 June 1934, Page 1

WESTLAND POWER

COMPANY DIRECTORS’ REPORT s '— The directors of Westland power, Ltd., Wellington, have reported, inter aba, that for the year ended December 31, 1933, the company’s operations showed an improvement of over £2OOO compared with the previous year, and the directors feel that the leeway of the past few years bias been checked, and that the company’s operations should prove profitable in the future. A good deal of development work was undertaken during the year to enable the company to cope with the increasing demand for its power. Several goldmining and sluicing companies have commenced to take power and water from the company, and large developments in this direction are immediately ahead. The current year’s operations should be appreciably better than the period under review. A satisfactory arrangeents Las been made to enable the reticulation of the Koiterangi district to be proceeded with, and this work has been commenced. A revival has taken place in sawmilling activities in the Westland district. During the year the connected load has increased from 1194 k.w. to 1437 k.w., and the maximum demand from 360 k.w. fco 640 k.w. “The company,” stated the report, “possesses a public utility of increasing value, and your directors feel that I their faith in the ultimate -success of the company as a profit-earning concern will be fully justified in the near future.” The report and balance-sheet were adopted at a meeting of shareholders this week. Air Sidney Kirkcaldie being in the chair. Messrs F. R. Hogarth and H. B.

Williams, retiring directors, were reelected, and the 'auditors, Messrs Watkins, Hull, Wheeler and Johnston, were also re-elected.