CHARGES REDUCED

Sun (Auckland), Volume III, Issue 640, 17 April 1929, Page 18

CHARGES REDUCED

FRANKLIN POWER BOARD’S GOOD YEAR SUCCESS OF PRUDENT POLICY (From Our Own Correspondent) PUKEKOHE, To-day. The Franklin Electric Power Board, at its meeting yesterday, received requests for power in the Hunua and Koheroa districts. They were referred to the engineering department for investigation. Mr. J. Dean presided. As the result of a conference with the Central Power Board in the Waikato, steps are to be taken to have the area known as the northern subdivision of the Whangamarino Road district included in the Franklin Board’s area, and also the Whangape riding of the Raglan county. The financial statement for the year ending March 31 revealed a gross profit of £19,698 16s 2d, added to which £1,005 8s 4d, carried forward from last year, makes a total of £20,704 4s 6d. After appropriating £11,395 19s for interest on loans, £2,210 12s lOd for sinking funds on loans, £2,000 to the depreciation reserve, £I,OOO to the general reserve; and £3,000 for machinery and plant, a balance of £1,097 12s 8d remained to be carried forward for the current year. It was shown that £237,000 had been expended from the capital account and revenue for the year totalled £34,500. It was agreed that the board's prudent policy of only erecting lines that would be payable was a wise one. It was agreed to reduce the charge for lighting by a halfpenny a unit, power for milking machinery by one halfpenny, and the meter rent by 4s per annum as from June 1 next, provided the raising of the loan of £75,000 is sanctioned by the ratepayers. The reductions will mean a decrease in revenue of about £ 6,000. but that from new extensions has not been allowed for.