HYDRO-ELECTRIC WORKS.

Manawatu Standard, Volume LII, Issue 305, 23 November 1932, Page 4

HYDRO-ELECTRIC WORKS.

FINANCIAL POSITION IMPROVES. REVIEW OF STATE OPERATIONS. “Hvdro-electric development and operation has throughout the year again been one of the most important functions of the department,” says the annual Public Works Statement. “Capital expenditure has been mainly concentrated on the remedial works at Arapuni and on continuation of construction works at Waitaki. 'l’he operating works have to some extent felt the effects of the prevailing depression in that there has not been the same increase in loading during the year as has liven usual for some time. In the North Island systems the loading for the year shows a small percentage increase for the year, hut in the South Island the loading has been slightly below that of the previous year. “The general financial position of the operating accounts shows a small improvement on that of last year, the percentage over net operating expenses Vdng 7.28 ns against 7 per cent, last year. “The general result of the operation of the department’s electric supply system to date has been that the schemes have paid all operating expenses and interest, and, in addition, has been able to provide £fi42,2fi7 towards reserves for depreciation and sinking fund purposes.”