THAMES VALLEY POWER.

Putaruru Press, Volume XI, Issue 268, 7 September 1933, Page 1

THAMES VALLEY POWER.

MEETING OF THE BOARD. The September meeting of the Thames Valley Power Board was held on Tuesday. There were present: Messrs. J. Price (chairman), J. W. Anderson and J. Pohlen (Matamata County), W. R. Lowry and H. M. Corbett (Piako County), J. F. Mayn (Hauraki Plains County), C. Mason (Ohinemuri County), J. McCormick (Thames County), J. M. Allen (Morrinsville), C. A. Arthur (Te Aroha), F. E. Flatt (Paeroa). Rate of Interest on Loan. As the board had found that it was impossible to raise money at under £4 8s per cent., a formal motion was carried on the recommendation of the finance committee rescinding a previous resolution “ that the board borrow £30,000 out of the £50,000 already authorised at 4i per cent, or lower.” Delegates for Conference. After some discussion the board decided that the chairman, deputychairman and engineer be delegates to attend the conference of the Power Board Association in Wellington. It was explained that there had been no conference for three years. The expenses would be about £l2 a delegate, but as against this the board’s engineer and chairman would certainly obtain information that would assist in solving technical and administrative problems. The manager said it was not desirable for him to attend, as this would mean his absence from the office for a week. Remits for Conference. Five remits for the conference of power boards were submitted by the finance committee and were approved by the board. One asked that the present charge made by the Public Works Department to power boards of £lO per k.v.a. be abolished. “It costs us about £BOO a year,” explained the chairman.

Another remit asked that all power boards should be charged the same standard rate for the power they took from the Government power stations, whereas at present the Auckland Board has a special preferential rate.

“ That supply authorities be. empowered to use their depreciation funds for capital expenditure and the reticulation of areas ” was another remit. It was explained that the boards received only 3i per cent, interest on these funds held by the Public Trustee, and it would he better business to use the money for reticulation and replacements rather than borrow for this purpose at a higher rate.