Auckland Power Board’s £96,256 Surplus

Northern Advocate, 26 May 1941, Page 2

Auckland Power Board’s £96,256 Surplus

[Special to “Northern Advocate”] AUCKLAND, This Day.

For the year ending March 21 last the Auckland Electric Power Board showed a surplus of £96,256. This was revealed at the annual meeting this afternoon by the chairman (Mr. S. J. Harbutt), who said that to the surplus had been added the balance of £132,738 brought forward from last year. In the capital account additions during the year amounted to £73,129, compared with £106,704 last year. The total capital expenditure to March 31 last reached £3,808,383. Mr. Harbutt said that, given a reasonable season, an absence of plant failures and the full co-operation of consumers, the board should be able to complete at least this year without any serious consequences.

The general manager (Mr. R. H. Bartley) said he saw no reason for being pessimistic as to the future. Setbacks would probably be received if the war continued for any length of time, but they could not be avoided. The board’s business might be affected as the result of power restrictions, reduced lighting and other similar factors. On the other hand, by making the maximum use of what they had the present position could be maintained.