POWER SUPPLY

New Zealand Herald, Volume LXXVII, Issue 23617, 29 March 1940, Page 8

POWER SUPPLY

ATTITUDE TO EXTENSIONS FINANCE MINISTER EXPLAINS [by TELEGRAPH —OWN correspondent] TE AAVAMUTT7. Thursday A renewed application by the Te Awamutu Electric-Power Board for the consent of the Local Bodies Loans Board to the raising of £'28.000 for reticulation of tlu» Kawhia area has resulted in Mr. W. J. Broadfoot, M.l\ for Waitomo. receiving a communication on the subject from the Minister of Finance, the Hon. W. Nash. ''ln the present circumstances," the Minister says, "the Loans Board quite properly considers applications in the light of all factors of national importance. such as shortage of overseas funds, short supplies of available materials, and the necessity for conserving the capital resources of the Dominion for war purposes. "As far as sterling funds are concerned, the Te Awamutu board's loan proposal of £"28,000 involves about £17.000 to be expended on materials from overseas, and it will be appreciated that the aggregate requirements of all power boards for all purposes, including normal development within reticulated areas, will amount to a considerable sum." The Minister suggested that the hoard should again approach the Loans Board with amended proposals to do the work in sections, only a portion to be undertaken immediately. "Under such a procedure," says the Minister, "all tho people concerned would perhaps not be supplied with electrical energy quite so soon as would otherwise be tile case, hilt if the position were explained to them I feel sure they would realise tho importance of doing nothing which will impede the country's war effort and be prepared to wait a little longer."