OTAGO ELECTRIC POWER BOARD

Otago Daily Times, Issue 24606, 14 May 1941, Page 9

OTAGO ELECTRIC POWER BOARD

MONTHLY MEETING

The final monthly meeting of the Otago Electric Power Board as. at present constituted was held in the board room yesterday. Mr George Moore presided in the unavoidable- absence of the chairman, Mr D. Boyd, and there were also present Messrs J. R Copland, W. Cameron, J. B. McGill, T A. Lowis, R. H. Michelle. W. C. Arkle, and W. Lee. Prior to the commencement of the usual business, Mr Moore referred to the retirement of Mr Boyd, who, he said, was the oldest member of the board, 'laving been elected in 1926. Mr Arkle also made mention of the improved position of the board's finances under Mr Boyd's chairmanship, emphasising that the land rate had not been struck since 1936. Financial The 'nancjal statement showed that the receipts totalled £4144 6s 9d, including £3778 5s lOd for electricity, hire purchase £135 17s lOd. and sundry debtors £2Ol 16s. Expenditure amounted to £6396 3s 9d, and accounts before the meeting totalled £1941 13s lid.—Approved. Correspondence Mi*s A. Coulter, secretary of the Kaitangata Basketball Club, wrote asking permission to use the lights installed for the Home Guard at the Kaitangata School for basketball practice—Considerable discussion ensued, and H was eventually decided that the board favoured the proposal. It was left to the executive officers to bring down a report at the next meeting. Rat Nuisance Mr J. E. Downes-Roberts, Gladbrook Station, wrote asking if it would not be possible to use conduit in the buildings on the property as the place had always been badly infested with rats. During the winter many stud cattle were housed and fed inside, and a large quantity of ?rain and fodder were stored. It was agreed that when the engineer was next in the area he should make inquiries about the use of conduit in places which are rat-infested or where cowbyres are being continually hosed down Chairman's Report On behalf of the retiring chairman, Mr D. Boyd, the secretary presented a report on the financial position of the board. This stated that as a result of the strong financial reserve being built up, future boards should have little or no worry as to line replacements or debenture redemption. The following comparisons were made be-

fNot struck since 1936. The report concluded by drawing attention to the fact that in the recent reduction in the domestic consumers' tariff all units at 4d and 2Jd had been reduced to 2d.

tween 1931 and 1941: — 1931. 1941. £ £ Capital account 291,500 *334.000 Number of consumers 3.755 5,068 36,602 56.985 8,385 9.702 Sinking Fund .. . 18,271 33.967 Redeemed debent1,049 34.081 Depreciation Fund — 29.779 11,545 + — High rate unit 9d 8d Overdraft .. 26,172 — * Including premium loan £19,000 and Otago Central loan £23,500.