Need For Further Reticulation Loan

Northern Advocate, 15 July 1949, Page 2

Need For Further Reticulation Loan

The need to va ; se a further reticulation loan must be faced, the secretary (Mr S. P. Day) told members of the North Auckland .Power Board yesterday; The present £75.000 loan was being used rapidly, he reported. Payments into the reticulation loan account amounted to £7903, leaving a deficit of £11,365, against which the board had yet to raise the sum of £38.000 on the current loan. In the consumers’ loan aecount, £2911 was paid during June, leaving a debit balance of £927. The amount still outstanding upon advances to consumers on June 30 was £10.106, compared with £9541 on May 30. A credit, balance of £13,251 was held in the power fund account on June 30, derived from payments of £20,510 including £5265 in loan repayments, and £13,903 from electricity and sundry accounts. METER READINGS UP. An increase of 14.83 per cent, from £B6BB to £9976. was derived from meter readings ir June, 1949, compared with the figures for the preceding year. Reading figures for the quarter ending June 30 were £33.614, compared with £29,885 for the same period last year, an increase of 12.48 per cent. Water-heating accounted for 9.413,540 units of the total 17.960.341 units of domestic power used during the 194849 financial year. Commercial power used 542.612 units for ordinary power and 121.173 units for water-heating. Industrial motors used 2,909.101 units, while rural motors used a further 3,150.766 units. Dairy water-heating accounted for 7,010.823 units, and street lighting for 38.500. The total of units used during the year was 31.733.316 yielding an average revenue of .949 d per unit.