POWER BOARDS’ CONFERENCE

Manawatu Standard, Volume LII, Issue 268, 12 October 1932, Page 2

POWER BOARDS’ CONFERENCE

ADDRESS BY MR COATES. CONFIDENCE RETURNING. Per Press Association. AVELLINGTON, Oct. 12. Tho executive of the New . Zealand Power Boards’ Association met today, Mr J. A. Nash, M.P., presiding. In his address, lit. Hon. J. G. Coates said New Zealand was not out of the wood yet. However, there was an encouraging note of a return of confidence in the trading community. Ho referred to the results attained at the Ottawa Conference as a remarkable move forward in Empire organisation. Nevertheless, internal economies and the adjustment of costs in conformity with price levels were still responsibilities to be shouldered by the Government and the community generally. It was perfectly true that the cost of hydro-electric undertakings was exceedingly high in the light of the existing price level, added Mr Coates, but it was tho cost of the times when they were decided upon. ‘No doubt many felt it would have been more prudent not to spend money on them, but the enterprise and confidence in the future which was at the back of tlie undertakings had kept the Dominion going. The consensus of opinion among those interested m the advancement of the country was definitely in favour of hydro-electricity. Speaking of the agricultural industry, Mr Coates expressed the opinion that the supply of power already provided was not in excess of tire demand. The advantage of State development of the sources of supply was that the community generally would benefit.