POWER BOARD CHAIRMAN

Taranaki Daily News, 12 July 1929, Page 8

POWER BOARD CHAIRMAN

MR. J. B. MURDOCH ELECTED. THE £200,000 LOAN SGHEME. A special meeting of the South Taranaki Power Board was held yesterday afternoon at Hawera, Mr. E. Long presiding. A letter dated July 2 was read from Mr. L. A. Bone asking for six months’ leave of absence and resigning the office of chairman, as in his opinion it was necessary that the board at present should have a chairman in accordance with the Act.

Mr. J. B. Murdoch was unanimously elected chairman.

Mr. Long took the chair. An apology was received for Mr. Murdoch’s absence, which was due to a bereavement. Sympathy with Mr. Murdoch was expressed. Mr. Bono was granted leave of absence for six months.

The Loans Board acknowledged the Power Board’s application for approval of a proposed loan of £200,000. The Loans Board inquired as to the procedure concerning a sum of £7500 for financial assistance to consumers of electricity. The practice was to authorise such loans for 10 years or less, but if the amounts lent to consumers were to be used as they were repaid for the purposes of further reticulation there would be no objection to a long ternr loan. The secretary (Mr. H. S. Elliott) read his reply that repayments would go into the reticulation fund, and therefore the board would prefer to have the whole loan for the long term.

The correspondence was received and the board went into committee.