ELECTRIC POWER BOARD.

Manawatu Standard, Volume XLIII, Issue 422, 13 June 1922, Page 3

ELECTRIC POWER BOARD.

cj FINANCING CONSCAIKRS,

'ilit* uiocl in”- of iho -Manawiif u-Oroua Kleetrie Power Hoard uiis cominuocl afiei* liio ’‘Standard ’ wont in press yesterday alUTiioon. Mr J. A. Nash, M.P.. presided, In tin; course of Ids monthly report, tho board's resident engineer (Mr W. A. Maters;) said dial ii was interesting to note whai had dpvelopta! with other power boards in connection will) financing conMinna’s n! electricity. The To Awanuilu Hoard, which had been in existence since 1920 ami had noi previously linaneed eon.'tuners, had decided io lake a poll and raise a special loan of 1)25,000 for lids purpose. The Central Power Hoard, - which controlled the (list rict around Hamilton, Xgaruawahia. etc., had decided to do likewise, and held a special meeting cf members on May 24 and decided to submit, a special poll of £IO,OOO for this purpose lo the ratepayers. The Auckland Power Hon'd was talcing a- poll for £550,000 for reticulation of suburbs, etc., of Auckland and also a poll of £50.000 lo finance consumers, making a total ot £600,000. Ihe 'litanies Valley Power Hoard had been linaneing consumers for some time and now had about 3000 consumers on its mains. The Central Power Hoard at its .special meeting decided to 11 x the minimum amount of financial assistance at £7 10s and the maximum amount at £75. In no ease was the advance to be more than 75 per cent, of cost, the repayments being spread over three years, A table was submitted tit the meeting showing that on a £6O loan the amount repaid at the end of three years on a sliding scale of inf crest would ho £55.