THE DEMAND FOR POWER.

New Zealand Herald, Volume LXIV, Issue 19550, 1 February 1927, Page 14

THE DEMAND FOR POWER.

AUCKLAND BOARD'S WORK, FURTHER MONEY REQUIRED, A statement showing the financial position of tho Auckland Electric-Power Board and an, estimate of its financial requirements was submitted So a meeting of the board yesterday by the general manager, Mr. R. H. Hartley. In a covering report, Mr, Hartley saiid tho estimates appeared to be quite satisfactory, but the board was being forced to provide to a very much greater extent in nearly all districts than was eve? anticipated. This additional work, however, had, and would, reflect proportionately on the revenue Bide. It was estimated that, if tho programme were to be pursued at tho same rate of progress as previously, in addition to the provision niacin in tlii earlier estimates, a further .£1.00,000 would bo required to be spent during the year. -As tho result of the position shown in tho statement, Mr, Hartley recommended the - board to raise the balance of the £650,000 loan authorisation, amounting to £150,000, riot later than .Tune next. and urged the advisability of including the 10 per cent, margin allowed above tit# total amount, namely, £65,000. He was of the opinion that the loan should be placed on, the Australian market immediately after the close of the financial year in March. Tho statement showed that with the loans available and with the assistance of reserves, the position could be satisfactorily met during the t financial year. Having carried this out, the board's reserves were still capable of meeting amounts appropriated against up to 1931. r Tho time would be opportune during the coming year to consider carefully the policy for the future concerning the fwancing of further reticulation and works.

Consideration of the statement and ff port were deferred, -