WAITEMATA POWER BOARD.

New Zealand Herald, Volume LXVI, Issue 20172, 5 February 1929, Page 7

WAITEMATA POWER BOARD.

IMPROVEMENT IN FINANCES;

COLLECTION OF ACCOUNTS.

The Waitemata Electric-Power Board met yesterday, the chairman, Mr. J. W. Hayden, presiding.

The estimated revenue account for the year ending March 31 next, showed that after paying all expenses, interest and sinking funds, and assuming the board would place an extra £2OOO to the credit of the Devonport £40,000 loan sinking fund, the surplus would be £5839. This, together with the present surplus of £10,123, would leave the board with a credit balance of £15,962. v A return of monthly sales for the nine months ended December. 31 showed an increase of £10,990, compared with the same period of the previous year. The total number !of-units sold for all purposes was 5,348,759, of a total value of £49,132. The average gross price was 2.2 d a unit sold. It was estimated the board would havo a credit balance in the loan account at March 31 of £18.000,. as against £11,237 as previously estimated. The working expenses had been further reduced, and their ratio tp total revenue for the past three years was as follows: —Year ended March 31, 1927, 60 per cent. ; year ended March 31, 1928, 55.4 per cent.; year ended March 31, 1929, 50 per cent, (estimated). It was decided to accept the offers of the borough of Birkenhead and the town districts of Glen Eden and Henderson to collect officially, and the offers of the town clerks of Northcote and New Lynn to collect unofficially any money tendered by the board's consumers for payments of accounts. A commission of 1£- per cent, was fixed.

A resolution was passed placing on record appreciation of the services of Mr. E. G. Skeates, a member of the board, who is shortly proceeding to England. Eulogistic refererices to Mr. Skeates' ability and sound advice were made by the chairman and all the members.