EXPANSION OF' BUSINESS

New Zealand Herald, Volume LX, Issue 18531, 16 October 1923, Page 9

EXPANSION OF' BUSINESS

POWER BOARD'S FINANCES. REVENUE FOR SIX MONTHS. INCREASE OF OVER £28,000. . - The expansion of the Auckland Electric Power Board's business, • and the progress being made with the installation of machinery are shown by the quarterly report and half-yearly statement : for the period ended September 30 last, submitted by the manager and engineer, Mr. A VVyllie, to'the board yesterday. The de-puty-chairman, Mr. S. J. Harbutt, presided. : The income for the half-year was shown as £106,855, compared with £78,821 for the corresponding period last year, an increase of £28,032, while the working expenses amounted to £44,566, as against £37,636, an increase of £6930. The interest and sinking fund, including all capital charges, was £51,593, an increase of £16,687 over the; corresponding period last year, when tho amount was £34,906. In the latter case no provision • was made for depreciation or writing off capital charges. New customers' applications totalled 1498, and the new connections 2357, the latter being an increase of 879 over the half-year ended September, 1922. Tliis made a total of 13,963, an increase of 3952 connections. The number of units sold in the past six months was 8,826,807, as against 6,480,685, an increase of 2,346,122. j •The erection -of the first 5000 kilowatt set at the power-house , was completed during the quarter ended September 30, and the erection of the second .set nearly completed. The work had progressed faster than Mr. Wyllie originally estimated. The erection .of the first instalment of the switch gear had been completed, as had the first boiler in the extended boiler-house, and - Tho first section of the store buildings had been made almost ready for occupation, and the piles and foundations for the new offices had been prepared. 'At the Hobson Street station the eredtion of the two tramway converters and booster, and the first "section of the switch-gear had been completed and tested. The old tramway switchboard had. been moved down on to the floor, and was all ready for running. Satisfaction was expressed at the position disclosed.