HIGHER SURPLUS

New Zealand Herald, Volume LXXVII, Issue 23817, 19 November 1940, Page 10

HIGHER SURPLUS

POWER BOARD FINANCES INCREASED EXPENDITURE LABOUR AND MATERIAL COSTS A surplus of £36.797 in the accounts of the Auckland Electric-Power Board for the half-year ended September 30, during which expenditure increased by £28,898, was reported by the general manager, Mr. R. H. Bartley, at a meeting of the board yesterday. The surplus for the same period last year was £29,109. Revenue for the half-year totalled £483,097, an increase of £31,000. Domestic supply accounted for £IB,OOO of tho increase, power supply £9OOO and lighting £2OOO. Expenditure amounted to £446,300. power purchased having increased by £21,122, wages for distribution by £1436 and repairs to mains by £2538. The half-year carried tho peak demand of 73,236 kilowatts, compared with 64,975 kilowatts for the corresponding term last year, so that when the position lor the full year was reviewed it should show an improvement. the report stated. "Tho report is very satisfactory, and the growth of load has been remarkable," said the chairman, Mr. S. J. Harbutt. "So long as we can increase the load, we can reduco the cost of power, but if tho rate of progress continues, and the board has to undertake uneconomic work compulsorily on account of the times, the position cannot remain as good as it its to-day. _ Mr. Harbutt referred to the _ increased cost of labour and materials, and said that in one area hundreds of poles had been erected, but idle awaiting the arrival of cables. Extra labour costs were involved through gangs having to be withdrawn until materials became available.