Auckland Power Board’s Big Scheme

Northern Advocate, 19 July 1938, Page 5

Auckland Power Board’s Big Scheme

[Special to “Northern Advocate .”l AUCKLAND, This Day. At a meeting yesterday the Auckland Electric Power Board decided to adopt the report of the general manager, Mr R. H. Bartley, upon a programme of work for the next four years involving approximately £496.000. £352,000 of this amount is required for extension work and the strengthening of the present reticulation system to cope with the increasing demands. This work is to be done cut of new loans lo be raised. The board has already power lo raise up to £290,000. Totalling £144,000, the balance of the work, the greater part of which is non-revenue producing, represents money required for the gradual transformation from direct to alternating current and the replacement of certain equipment' with more up-to-date machinery. This will, over a period of four years, be financed out of the board's own resources. The board has a number of fixed investments with other local bodies totalling about £165.000. which represents a portion of its depreciation reserve. 11 has decided to maintain this reserve in liquid form for any possible contingency in the future, and the investments are not to be sold with a view lo finding money for the scheme.