DEVONPORT ELECTRICITY.

New Zealand Herald, Volume LIX, Issue 18135, 6 July 1922, Page 7

DEVONPORT ELECTRICITY.

PROPOSAL TO BUY PLANT. LOAN OF £40,000 NEEDED. The proposal to raise a loan of £40,000 in connection with the electricity supply for the Devonport Borough was discussed I at a public meeting at Devonport last j evening. The Mayor, Mr. H. S. W. | King, presided. A poll of ratepayers will be held nest Wednesday. It is proposed to allocate the loan as follows:—Purchase of present installation plant, £23,000; alterations to existing mains, etc., £30CO; alterations to pumps at waterworks pumping station : including new lines, £2000; installation of new 220-k.w. set, £10,000. In . explaining the scheme and advising ratepayers to support it, the Mayor and other members of the council said the scheme had been thoroughly examined and favourably reported on by an expert electrical engineer, Mr. A. J. Walker. The scheme, it was considered, would prove of great benefit to the borough, and / would be a financial success. The price was satisfactory. It would take £40,000 to replace the existing plant, but the council had an option over it for £25,000. There was a great need for an extension of the system, but the company was unable to meet the demand. At present approximately 200 householders were waiting for electric light, and with the extension plant every house in the borough could be supplied. The revenue from the undertaking would amply provide for the payment of the rate of 15-16 d in the £,' which would be struck as security for the loan, so it would not be necessary to call it. The present charge for current would not b«> increased A table prepared by Mr. Walker showed that the undertaking should return a profit of about £5000. He was thoroughly satisfied that at the price the council could start the undertaking on a sound* business basis. Numerous questions were answered by the speakers, by Mr. Walker, and by Mr. A. E.i Russell, the latter representing the Eiectricity Supply Corporation (N.Z.). Ltd., the present owners. Mr. Russell also explained the position of the corn-

pany. A motion of no confidence in the proposal lapsed for want of a seconder. No other motion was proposed. ,- ,