POWER IN COUNTRY.

New Zealand Herald, Volume LXVII, Issue 20481, 5 February 1930, Page 9

POWER IN COUNTRY.

THAMES VALLEY AREA.

FINANCING INSTALLATIONS.

DEPARTMENT'S ATTITUDE

[BY TELEGRAPH. —OWN CORRESPONDENT.'] TE AROHA, Tuesday.

Tho Thames Valley Power Board met to-day, tho chairman, Mr. I<\ T. Strange, presiding. ; Reporting on tho discovery at Paeroa of a species of Australian grub which had bored a hole eight inches long in a power pole in a castle, tho Government ontomologist, stated that t|io species had boon identified aB zeuzera baisduvalli, an injurious insoct. It was unlikely that the species would bocomo established in New Zealand owing to the marked difference iu climatic conditions.

Writing in connection with the financng of farm electrcal installations Sir Joseph Ward, Minister of Finance, stated that tho Stato Advances Act provided thafc all loans advanced by tho department must bo secured by a first mortgage over tho applicant's interest in the propei'ty and every caro should be taken that tho department's interests as first mortgagee wore presorved to tho fullest possible nxtont. Tho department's interest should not bo impaired or lessened by tho registration of preferential Charges.

''lt is considered," tho letter continued, " that where a party has : obtained financial assistance from the department on security of a first mortgage over his 1 farm and desires electrical installations on the time payment system at least 50 per cent, of the cost should bo paid in cash, leaving the balance to remain a charge on tho property at a reasonable rate of interest. The superintendent of Stato Advances considered that this should not exceed 6 per cent, which appeared to bo tho ruling rate in such cases."

Following a strong protest from Mr. Price (Matamftta), tho board resolved to request the Minister to reconsider the terms and paymonts, which were regarded as excessive.

Referring to a request for increased representation from town board districts the Hon. E. A. Ransom, Minister of Public Works, advised that the matter ■was being reviewed during tho * Parliamentary recess and conclusions would probably be finalised in May. Reporting on complaints of overcharging tho engineer, Mr. N. G. McLeod said the complaints lmd mostly been traced to inaccuracies in meter reading on the part of consumers.' Three claims for compensation for electrocuted cows were roferrcd to the board's insurance authorities.

Regarding a canvass of residents of tho Waihi Beach tho engineer stated that tho original guaranteo of £322 a year had boon reducßd to £227 as tho result of better future prospects. It wa3 resolved to confer with boach residents on the question of the roquired guarantee. Accepting tho resignation of Mr. C. Hattaway, accountant, with regret the board decided.,;to record appreciation oi his services which were highly praised by Messrs. Sprague, Strong and Price. Mr. Hattaway has been appointed secretary of the liutt Valley Power Board. It was resolved to appoint Mr. C. Ross, of Te Aroha, to the vacuncv,.