DEMAND FOR POWER

New Zealand Herald, Volume LXXVI, Issue 23431, 22 August 1939, Page 11

DEMAND FOR POWER

THE WAITEMATA AREA BOARD'S INCREASED REVENUE A revenue increase of £7334 in the last four months was reported to the Waitemata Electric Power Board by its manager, Mr. A. Main, yesterday. The revenue increased from £51,644 to £58.978. No cessation in the board's activities had been made because of adverse weather as far as constructional and reconstructional work were concerned, the report stated. For the quarter ended June 30, £2524 was Bpent, on reconstruction. Reticulation replacements and depreciation replacements amounted to £459. An extraordinary demand by country settlers for extensions of the supply had been made, and to-day the board had so much work on band fulfilling guarantees alreadV given that it had to refrain from accepting any further guarantees until tlio current work was Hearing completion.

RAISING £25,000 LOAN BECOME END ATI ON ADOPTED Because of the difficulty that might lie experienced by local bodies in obtaining loan moneys next year owing to tho Government having raised a largo internal loan this year, immediate steps to raise £25.000, tho balance of a 103S loan of £IOO,OOO, were recommended to tho Waitomnta Electric, Power Board at a meeting yesterday bv its manager. Mr. A. Main. Mr. Main recommended that the loan he raised for a 20-year term on an amortisation basis of <lO equal halfyearly payments of principal and interest during the currency of the loan, that interest should ho at 4J per cent and tho principal repayments should bo -CM Gs Sol per cent. Tho report was adopted.