ELECTRIC POWER BOARD.

Manawatu Standard, Volume XLIII, Issue 422, 13 June 1922, Page 6

ELECTRIC POWER BOARD.

1 The .Manawaiu-Oroua Electric Power Hoard met lids afiernoon, the chairman, Mr J. A. Nash. M.P., presiding. , |“ t .|dies were read from die various power hoards forming, along with die MaiiawaUtOroau Board, die firoposed group ol hoards lu go on die London market with a consolidated loan proposal. , . The W.ingaiiuidlaiigilikei Board advised that it would he some lime before it would l)i‘ ivutlv ivganliiiii ih«' !«»;m jiroposui. anti suggested dun die proceedings he gone on with witlioul including its distriel in the scheme. Tl u . Tararua, 1 lorowheiuia and Hanne--1 virke Boards intimated that they were talcing active steps to ascertain the respective amounts of money they would require and would shortly be in a position to furnish the board with all the necessary information. A POINT CLKAKKH HP. The board's bankers wrote slating that it was not likely that they would insist on Idle collection of any rale struck as security I for an overdraft. \ i In* chairman connnoiiind ihai inis was a very satisfactory position, as he had made ii quite clear to the hankers that the hoard had no intention to eolleet die rate. He read a letter from the hoard s solicitor, too effect of which was dial die hoard's action was unite in order. . Mr Morrison, who had raised the point j -u' a pre\ ions meeliiig. -aid dial he "as i quite satisfied with die position. I ‘ In reply lo a question, the chairman said ! dial if liie hoard had to collect any rate, j Palmerston North and Peilding would have io pay its quota. Mr Harford; Although there is nothing to he expended in either town.' The chairman replied that the board would have no option but to make the col--1 lection general. _____