MUNICIPAL ELECTRICITY
PROFITS IN CHRI«TCHURCH,
LARGE GENERAL RESERVE,
, [by. telegraph.—pbkss association.] CH EISTCHUBCH. '• MondjJ. The annual accounts of the Municipal Electricity Department, which is supply from Lake Coleridge, were presented, to the City Council to-night. The profit for the. year on the traditJ uccount was £253, and on the electricity working account, £18,996., making a total of £19,249. Added to the sinking fund accretions of £3520, this makes & total 0! £22,769 available, for distribution. •■
Of this total, sum, £9149 is appliecl partly to the cost of investigating M' tho " Waimakariri power scheme; and to sink- " ing fund accretions transferred to general reserve. The' balance of .£17;,620 i« transferred to the genera! reserve which I now stands at £58,070. The latter amoun» ; is altogether apart from the special reserves provided for depreciation and *£, ' uewals.
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Bibliographic details
New Zealand Herald, Volume LX, Issue 18495, 4 September 1923, Page 6
Word Count
133MUNICIPAL ELECTRICITY New Zealand Herald, Volume LX, Issue 18495, 4 September 1923, Page 6
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