WHICH FIGURE IS CORRECT?

Taranaki Daily News, 10 June 1929, Page 7

WHICH FIGURE IS CORRECT?

WAS POWER AWARD £133.000 ODD?

BOARD’S OBJECTIONS TO FIGURE

Exception was taken by Mr. L. A. Bone and other members of the South Taranaki Power Board on Friday night to ,the use by the Hawera County Electric Company of the figures £133,000 odd as the amount under the award of the arbitration tribunal the board would pay for the company’s undertaking. Th;» correct award was £125,682, said members, not the sum named by the company. The use of the £133,000 odd by the company was to illustrate the comparison between the oilers and counteroffers during and since the negotiation stage. The sum of £125,682 paid to the company would pay for the company’s undertaking, but that sum would not be the value of the total assets of the company, liquid or otherwise. The difference represents liquid assets and book debts and the company by the terms of the award retains that difference, simply, it is presumed, to save the need to pay cash for liquid assets.

Adjustments will be necessary in respect of urgent work done to reticulation, amounting to some hundreds of pounds, from September 30, 1928, to whatever date, if at all, settlement should take place. Stocks may fluctuate and also need adjustment. Again, interest and other payments will need to be made by the board. The amount estimated by Mr. T. R. Overton, engineer, for adjustment purposes on settlement was £4318. Doubt was expressed by Mr. Bone at the board’s meeting Whether the sum required would be as much as or more than that. It could not accurately bo guaged, he said. MINIATURE RIFLE SHOOTING. HAWERA CLUB’S MATCHES. There are 17 competitors for the Hawera Miniature Rifle Club’s president’s trophy competition, now being fired. This is a sealed handicap event and is creating great interest. At present the holder of the club’s champion title, L. Uttinger, is leading with a score of 99 off the rifle, and Miss K. Petersen, junior champion last year, has scored 98. Others who have fired the first round are as follows: E. Uttinger 97, A. Elgar 96, J. Velvin 96, Miss J. Rae, 95, J. Vinton 95, E. Booth 91, G. Harding 90, T. Hotter 90, R. Allan 89, C. Dingle 89, A. Wilson 89, L. Harding 88, Mrs, Rea 86, J. Tapp 83, G. Davidson 81. So far only L. Harding, R. Allan, G. Davidson and C. Dingle have completed the second round. A Tisdall Cup competition has been arranged by the New Zealand Miniature Rifle Association, Wellington, and must be completed on or before Saturday, June 15. Targets are now available from the local secretary. Members of the Hawera Electric Light Company are to fire a match with the Hawera club on June 18, and will practise on Friday, also on Tuesday before the match commences. GENERAL ITEMS. The South Taranaki Electric Power Board gives notice to-day of its intention at its meeting on June 25 to consider a proposal to seek authority for a loan of £200,000. Objections to the proposal 'must be lodged not later than the day preceding the board’s meeting. HAWERA OPERA HOUSE TO-NIGHT. “CLEAR THE DECKS.” Coming to the Opera House, Hawera, to-night is tho Reginald Denny comedy, “Clear Decks," one of the best stories Denny has ever had, and bringing back memories of the old days of “Skinner’s Dress Suit" and “I’ll Show You the Town.” In this picture Denny is variously mistaken for a lunatic, a thief and a detective, and is compelled to play the lunatic most of the time. It is a dream of a story, all occurring on board an ocean-going liner, and the hero is hard put to it to save his skin. Everything ends as it should. A full supporting programme includes two news reels, cartoon and comedy. The box plan is as usual.