SUPPLY OF ELECTRICITY.

Manawatu Standard, Volume LX, Issue 280, 25 October 1940, Page 8

SUPPLY OF ELECTRICITY.

HOROWHENUA AREA. The monthly meeting of the Horowhenua E'eelric Power Board was held in Levin this week and was presided over by Air O. A. Monk. Also present were Messrs W. E. Barber, T. G. Vincent, R. O. Hornblow, A. E. Hyde, C. A. Kccdwcll, F. \V. Vickorinan, and A. Seifert. The treasurer (Mr R. A. Frcdcrikson) reported on tho position of the board’s finances at tho half-year as follows, the figures in parentheses being those estimated at the beginning of the year. —Income; Domestic supply, £17.687 (£34,348); commercial supply, £5,655 (£10,404); power, £7657 (£15,733); water heating, £5551 (£10.765); public lighting, £670 (£1350); miscellaneous, £514 (£1095): discounts. £2685 (£6100); a total of £35,059 (£67.595). Expenditure: Power purchases. £17,024 (.£32,500); operating charges, £6341 (£12,390).; management and general. £3031 _ (£6229); interest, sinking funds and princinul re payments, £BOBI (£16,162); public risk reserve, £IOO (£200); capital expenditure from reserve, £420 (£1500); less roan wages, £B3l (£1500); a total of £34.116 (£67.481). The statement shows a surplus of £893 on the half-year’s working, the rojiort added. This _ very satisfactory position has been obtained, ill the main, by the incroascd sale of electricity under the heading of power, and is the more gratifying in view of the fact that power sales have not shown an upward tendency for some years. Under normal conditions the surplus shown for the half-year would be considerably increased by' the end of the year. This year, however, tho inorcase will ho reduced'by the addition ol 5 per cent, increase in wages and salaries of approximately £260, and also capital charges of £3OO on additional loan money required. With the amount of lean work which is in hand at the present time I consider that a loan of £12,000 will be roquired in order to have some loan money available for the commencement of the next financial year. Acting on instructions from the finance committee I have made preliminary' inquiries for loan money and after consulting the chairman I have entered into negotiations for a loan of £12.000 _at 3J, per cent, on a 20-year amortisation table. The report was received and accounts amounting to £11,230 19s 8d were passed for payment. The engineer (Air J. A. Smith) reported on general work carried out. A temporary line to supply the military camp at tho Foxton racecourse had been erected and put into service. Tho chairman (Air G. A. Monk) saia that subject to the Electricity Controller s consent being obtained, tho extension at Paraparaumu to give electricity to a new subdivision wou'd he carried out before the Christmas holidays.