POWER REVENUE

New Zealand Herald, Volume LXXIV, Issue 22714, 28 April 1937, Page 13

POWER REVENUE

INCREASED BUSINESS FRANKLIN BOARD'S YEAR HIGHER COSTS ABSORBED PROFIT OF OVER £6OOO SHOWN [from our own correspondent] PUKEKOHE, Tuesday : "Increased expenditure occasioned by the 40-hour week and other legislation has been absorbed without difficulty owing to the large increase .in business," said the secretary, Mr. S. P. Day, in a report submitted to the Franklin Power Board to-day on the board's operations for the financial year ended March 31, as revealed in the balance-sheet. The net profit for the year, he stated, amounted to £6622. Of this, £1683 was from the actual sales of electricity, £2813 from showroom, installations and sales of materials, £966 in interest from the board's depreciation fund commissioners, and £551 in interest on advances to consumers. Sales of electricity for the year reached £59,288, compared with £54,450 in the previous year. Prospects for Present Year Ihe opinion that sales of electricity would increase in the present year was expressed by Mr. Day, However, he added, tho item £2813, representing profits from the showroom, installations and sales of materials was exceptional, and it was problematical whether the return under this heading could be maintained at last year's level. Tho board had, during the year, raised loan money amounting to £23,100, to finance extensions, at the satisfactory interest rate of 3} per cent. A further £IO,OOO would be received gn June 1 and this, with cash in hand, should be sufficient for some time to come. The board's total capital expenditure to date was £351,496. Reserves were considered ample. Board to Review Charges The board, will revise its scale of charges to consumers next meeting with a view to making reductions for the current year. The reticulation of JKoheroa Road, between Mercer and Mangatawhiri, was authorised at to-day's meeting,- minimum guarantees amounting to £IOB having been received._ The engineer, Mr. L. G. Sharp, also reported that guarantees had been obtained and new estimates supplied in the case of Glenmurrav. The Central Power Board wrote suggesting that part of the Franklin Board's territory south of Glenmurray be ceded to it. It was decided to reply that the Franklin Board's mains were already being extended in tjyit and there was every prospect of the whole area being retic.ulated within a reasonable period.

COMMUNITY LIGHTING CEREMONY AT DARGAVILLE [BY TELEGRAPH OWN" CORRESPONDENT] DARGAVILLE, Tuesday The pressing of a button last evening flashed along Victoria Street, the main street of Dargaville, two even rows of light, when, in the presence of about 1200 people, the official switching-on of community lighting in Dargaville was performed by the Rt. Hon. J. 6. Coates, M.P. for Kaipara. The Mayor, Mr. F. A. Jones, congratulated the business people on their forward move in inaugurating community lighting. He expressed gratification that the carnival committee had arranged its programme to coincide with the function that evening. "We have electric light and power now, and I hope the board will make it possible by means of financial assistance for every consumer to take advantage of the great boon of electric power," said Mr. Coates. "It is absolutely essential these days, if country life is to be livable, and in the cities and towns, too, that all should have the same opportunity as in other parts of the country. It is a little more difficult to get good roads or. railways on account of the physical difficulties to be surmounted." Mr. J. A. McLean, chairman of the North Auckland Electric-Power Board, thanked the people for their lovaltv to the board. It had, he said,, installed electric power in every house possible so far, and had installed in town one of the best types of street lighting in the world. Dargaville was the first town north of Auckland to have community lighting. Mr. Coates then pressed the switch and flooded the street in a bright glow, amid cheers and singing.