POWER BOARD

Poverty Bay Herald, Volume LII, Issue 16201, 26 November 1926, Page 2

POWER BOARD

BIG INTEREST SAVING The monthly meeting of the Poverty Bay Power Board was lieki today, there being present: Messrs 0. H. Williams. G. Wildish. L. H. McLean, F. Bowen, T. Corson, T. Todd, A. C. Steele, and I. MirfielA. In the absenco of Mr. F. R. Ball, the chair was occupied by Mr. C. H. Williams. li{ reply to a letter from the beard, the A.M.P. Society advised that interest on the loan made to the board would only be charged from the date on which the* money was lifted. The instalments would be available within a few days of the receipt, of a request for payment, providint;- the debentures for each instalment" were found to be in order on arrival at Wellington. The society suggested that January 31 next bo fixed as the date from which the interest, will be charged.—the letter was received and the suggestion agreed to. The clerk stated that the saving of interest on the iirst instalment of the loan would amount to about £4OO.

Mr Toogockl reported that two large shipments of poles had been delivered at the same time, and though the port had been congested, the poles were being moved now. The shipments had turned out very well. Ilia quality being generally excellent.) The finance committee recommended ihnt tenders be (ailed for the erection of the hoard's building on the specification drawn up on the enlarged plan last before the board. The recommendation

was adopted, as was also the recommendation of the engineer that- tenders be called for the extension of the power house and the laying of the foundations for the new unit'at, the power-house.