STATE ELECTRICAL WORKS.
PROVISION FOR ACCOUNTS - [BY THXFGItAFII.— SPKCIAL CORRESPONDENT.] ' , : , . . 0 WELLINGTON,;, Friday. The State. Supply <of Electrical Energy Bill was introduced in the House of Representative* ; this afternoon. >; The Hon. W. -Eraser explained that .the Bill only defined how accounts in connection with the sale of electrical energy shall be kept. The sale of electricity had grown to such dimensions that it had become necessary that a proper system of accounts should bo kept in connection with each electrical scheme. - •? .•'•'.'•■' ■~ , ; A ; The' Bill provides -for depreciation, _ sinking and reserve funds. Tiio depreciation fund is to bo established by annual appropriations of not less than 2 per cent. of tho capital, cost of tho completed works but the fund is not to exceed one-eighth of the capital cost. Payments at the rate of 1 per cent. '. arei*. to be mado into each sinking fund, but the fund is not to exceed the amount of surplus profits derived from the scheme.- Any balance of profits is to bo credited to tho reserve fund.
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New Zealand Herald, Volume LIV, Issue 16675, 20 October 1917, Page 6
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172STATE ELECTRICAL WORKS. New Zealand Herald, Volume LIV, Issue 16675, 20 October 1917, Page 6
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